You want to buy a flat which is sold for TL 200000 cash. Instead, the seller offers
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Question:
You want to buy a flat which is sold for TL 200000 cash. Instead, the seller offers you a chance to make a quarter of the payment now and the rest in five annual installments with an interest rate of 15%.
a) Please show the situation after the initial payment, in timeline and equation form.
b ) What is the amount of each payment? Please calculate in excel. Write the excel formula.
c ) Fill in the amortization table below.
show all calculations.
Transcribed image text: Period Annual Installment Annual Interest Payment Annual Principal Payment Remaining Debt 1 2 3 4 5
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