Question
Suppose you have just borrowed PKR 5 million from NBP to support a profitable project. According to the mutual agreement between you and NBP you
Suppose you have just borrowed PKR 5 million from NBP to support a profitable project. According to the mutual agreement between you and NBP you are interested to repay your loan in five biennial (once every two years) equal installments. The first installment will be paid in two years if the bank is charging a 14 percent annual percentage rate (APR) find the installment (coupon)?
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Entrepreneurial Finance
Authors: J . chris leach, Ronald w. melicher
4th edition
538478152, 978-0538478151
