a. What would be the annual payments on an 8% per annum installment loan of $1,000 from

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a. What would be the annual payments on an 8% per annum installment loan of $1,000 from a credit union with repayment over three years?

b. Write out the amortization schedule for the loan.

c. Now suppose that the payments are to be made on a semiannual basis; what would the semiannual payments be? Assume the 0.08 is a nominal rate.

d. Is the total paid in case (c) less or more than in the former case? Why?

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An Introduction To Accounting And Managerial Finance A Merger Of Equals

ISBN: 9789814273824

1st Edition

Authors: Harold JR Bierman

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Question Posted: Dec 11, 2023 12:51 PM

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a. What would be the annual payments on an 8% per annum installment loan of $1,000 from

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a To calculate the annual payments on an 8 per annum installment loan of 1000 with repayment over three years we can use the formula for calculating t...View the full answer

An Introduction To Accounting And Managerial Finance A Merger Of Equals

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