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You borrow B20,000 for a term of 20 years to be repaid by level annual instalments. The rate of interest will be 7% pa effective
You borrow B20,000 for a term of 20 years to be repaid by level annual instalments. The rate of interest will be 7% pa effective for the first 10 years and 8% pa effective thereafter. Calculate the annual repayment.
pls explain it in detail with cashflow diagram
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Risk Management And Financial Institutions
Authors: John C Hull
6th Edition
1119932483, 9781119932482
