Question
loan of EGP 40,000 is taken out. Interest payments are due monthly at j 12 = 10%. A sinking fund is set up to pay
loan of EGP 40,000 is taken out. Interest payments are due monthly at j12= 10%. A sinking fund is set up to pay back the EGP 40,000 in one lump sum at the end of 4 years. The sinking fund earns j12 = 12% and deposits are made monthly. Find the monthly debt expense. final answer plz
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
