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need an answer asap thank you ACC73402 SECTION A Instruction: Complete ALL questions from this section. Mark Gore plans to get married and he wants
need an answer asap thank you
ACC73402 SECTION A Instruction: Complete ALL questions from this section. Mark Gore plans to get married and he wants to purchase a house for $1 800 000. He entered into an agreement with National Housing Trust (NHT) to provide 50% financing which involved monthly payments over five (5) years at 12% per annum. The remainder of the funds would be borrowed from his commercial bank. Terms of the bank loan are 10% down payment with the balance to be repaid at 20% interest over three (3) years. Calculate monthly payments to NHT if payments are made at the end of each (5 marks) A month. B Compute annual end of year payments to the commercial bank. (5 marks) C. Considering B. above, prepare the amortisation schedule for this loan. (10 marks)Step by Step Solution
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