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

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

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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