Question
John is planning to buy a new Rav4. He has borrowed $3,500,000 from FGB at an interest rate of 12% per annum for 6 years.
John is planning to buy a new Rav4. He has borrowed $3,500,000 from FGB at an interest rate of 12% per annum for 6 years.
(a) Calculate his annual payment
(b) Prepare an amortization schedule for the life of the loan
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a Annual Payment The annual payment can be calculated using the formula below Annual Payment Loan ...
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Corporate Finance and Investment decisions and strategies
Authors: Richard Pike, Bill Neale, Philip Linsley
8th edition
1292064064, 978-1292064161, 1292064161, 978-1292064062
