Question
Ngunyi Ltd specializes in making high end furniture and upholstery. It has borrowed a loan of Sh. 20 million to finance a warehouse in Nakuru.
Ngunyi Ltd specializes in making high end furniture and upholstery. It has borrowed a loan of Sh. 20 million to finance a warehouse in Nakuru. Assume a rate of 14% and the loan is for 4 years.
Required:
a) What is the monthly payment for the loan (3 Marks)
b) Prepare a loan amortization (Using Microsoft Excel)
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Investment Analysis And Portfolio Management
Authors: Frank K. Reilly, Peggy L. Hedges, Philip Chang, Keith C. Brown, Hedges Reilly Brown
1st Canadian Edition
0176500693, 978-0176500696
