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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

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

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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2.A person got a loan of 200.000 Ł 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 wwwww ww. www wwww ww www www
Transcribed Image Text:2.A person got a loan of 200.000 Ł 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 wwwww ww. www wwww ww www www
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