16 - What is the total interest / dividend amount to be repaid at the end of 10 years for a loan of 190 000 lira withdrawn from the bank for housing needs with an annual compound interest of 15%? A) 578 656 B) 583 025 C) 568 656 D) 581 214 E) 582 158

16 - What is the total interest / dividend amount to be repaid at the end of 10 years for a loan of 190 000 lira withdrawn from the bank for housing needs with an annual compound interest of 15%? A) 578 656 B) 583 025 C) 568 656 D) 581 214 E) 582 158

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Concept explainers

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.

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16 - What is the total interest / dividend amount to be repaid at the end of 10 years for a loan of 190 000 lira withdrawn from the bank for housing needs with an annual compound interest of 15%?
A) 578 656

B) 583 025

C) 568 656

D) 581 214

E) 582 158

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