Kelly borrows $30,000, to start a motor repair business in Hong Kong, that she must repay in

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Kelly borrows $30,000, to start a motor repair business in Hong Kong, that she must repay in a lump sum within the next 9 years.

The interest rate is 10% annually compounded. There is no prepayment penalty.

a. What amount will be due if she decides to repay the loan after 2 years?

b. How much would she have to repay after 5 years?

c. What amount is due at the end of 8 years?

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Principles Of Managerial Finance Brief

ISBN: 9781292267142

8th Global Edition

Authors: Chad J. Zutter, Scott B. Smart

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Question Posted: Feb 24, 2024 11:00 PM

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Kelly borrows $30,000, to start a motor repair business in Hong Kong, that she must repay in

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Given Loan amount 30000 Interest rate 10 annually compounded Numb...View the full answer

Principles Of Managerial Finance Brief

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