Pauline borrows a loan of 120000 for 3 years at 11.5% simple interest Calculate the total interest due on the loan If she is required to reply in monthly installments how much how much would she repay per month? What is the banks profit as a percentage of the loan accounts.
Pauline borrows a loan of 120000 for 3 years at 11.5% simple interest Calculate the total interest due on the loan If she is required to reply in monthly installments how much how much would she repay per month? What is the banks profit as a percentage of the loan accounts.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Pauline borrows a loan of 120000 for 3 years at 11.5% simple interest
Calculate the total interest due on the loan
If she is required to reply in monthly installments how much how much would she repay per month?
What is the banks profit as a percentage of the loan accounts.
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