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there is a mistake, not 2023, there is 2033 in 8th question 8) Assume, today is January 1, 2023. You are planning to deposit 200000
there is a mistake, not 2023, there is 2033
in 8th question
8) Assume, today is January 1, 2023. You are planning to deposit 200000 KZT every year starting from January 1, 2024 to finance your future business. Interest rate on your deposit will be 16% and last deposit will be on January 1, 2023. How much money will you have in your bank account as of January 1, 2023? (Hint: Draw the cash flow time line properly and solve by means of as many ways as you can 9) Assume, today is January 1, 2023 and you would like to purchase a house for your family by getting a mortgage loan from a local bank. Annual interest rate on mortgage loans is 20%. You think that, you can pay 1000000 KZT at the end of every year for the following seven years. How will you borrow from the bank today? (Hint: Draw the cash flow time line properly and solve by means of as many ways as you can) Step by Step Solution
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