Consider a 100,000 bank loan at 10 per cent per year, repayable in equal annual instalments over
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Consider a £100,000 bank loan at 10 per cent per year, repayable in equal annual instalments over five years. The annual repayment can be found by dividing the amount of the loan by the cumulative present value factor for five years at 10 per cent:
Annual repayment = 100,000/3.791= £26,378.26
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The table youve provided shows the amortization schedule of a 100000 loan at a 10 percent annual interest rate which is repaid in equal annual install...View the full answer
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Am Ongeri Cosmas a graduate from Egerton University in 2017 with Bachelors of Science in Education Sciences (Biology and chemistry). I had a second class upper division after studying for four years, I chose teaching profession because in my desire to change the face of the community by helping the young one on education matters. More importantly, I joined this profession because am of the class of thought that education in every possible way is one of the fundamental factors of development. I strongly believe educating the society is the most powerful weapon one can use to transform the world.
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Related Book For 
Corporate Finance Principles And Practice
ISBN: 9781292450940
9th Edition
Authors: Denzil Watson, Antony Head
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