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On 31 of December, JANDU, Ltd obtained a loan from the bank for $1,300,000. Interest rate is 5%. The company will face monthly instalment payments
On 31" of December, JANDU, Ltd obtained a loan from the bank for $1,300,000. Interest rate is 5%. The company will face monthly instalment payments of $6.000 as from January 1 2020.
Calculate the remaining unpaid balance of the loan at 2nd of March 2020. Explain your calculation.
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The unpaid balance on loan as of 02 mar 2020 is 11301...
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
