Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Who can help me with this please? 2.A person got a loan of 200.000 from Bank A at 12 % annual interest rate. The bond
Who can help me with this please?
2.A person got a loan of 200.000 from Bank A at 12 % annual interest rate. The bond will be repaid in 24 months with equal instalments. 4 Months later he learned that he could get the loan from bank Bank B, at 11 % interest rate. Bank B, conceded to the request. Therefore he will pay back the loan to Bank A and get the same amount of loan from Bank B. What is the amount of loan to be paid back to Bank A? Prepare a bank amortization table showing the remainder of the loan at the end of the 4th month
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started