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PLEASE POST ANSWER ! I SEE YOU SAID IT WAS ANSWERED ALREADY BUT I CAN NOT SEE IT Pyton Company Limited is an overseas investor
PLEASE POST ANSWER ! I SEE YOU SAID IT WAS ANSWERED ALREADY BUT I CAN NOT SEE IT
Pyton Company Limited is an overseas investor who is interested in developing a piece crown land on the eastern beach coast of Grand Turk. Based on the real estate market the cost is estimated at $20 million dollars for the development. The company has already secured $2 million of the overall cost. The Financial Manager has requested and received information from two banks about obtaining a loan for the difference as follows: 1. CIBC requires that the company make a deposit of 10% to obtain the balance required, payable within 6 years at 15%. 2. Scotiabank is offering 100% financing for 8 years at 18%. 3. Both loans will begin at the end of the year. A. Prepare the amortization schedule for the CIBC loan option. Pyton Company Limited is an overseas investor who is interested in developing a piece crown land on the eastern beach coast of Grand Turk. Based on the real estate market the cost is estimated at $20 million dollars for the development. The company has already secured $2 million of the overall cost. The Financial Manager has requested and received information from two banks about obtaining a loan for the difference as follows: 1. CIBC requires that the company make a deposit of 10% to obtain the balance required, payable within 6 years at 15%. 2. Scotiabank is offering 100% financing for 8 years at 18%. 3. Both loans will begin at the end of the year. A. Prepare the amortization schedule for the CIBC loan optionStep by Step Solution
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