Question
You're a financial analyst at Singapore's Housing and Development Board (HBD), and you were tasked with reviewing a loan proposal. The commercial loan consists of
You're a financial analyst at Singapore's Housing and Development Board (HBD), and you were tasked with reviewing a loan proposal.
The commercial loan consists of a fully amortized loan borrowing $3,145,725 on a 8-year 4.83% effective annual rate (EAR) term.
Note that payments will be done annually. What fraction of the payment made at the end of the 1 year will represent repayment of principal?
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Multinational financial management
Authors: Alan c. Shapiro
10th edition
9781118801161, 1118572386, 1118801164, 978-1118572382
