Question: 15 Question 15 LKN Ltd has borrowed $200,000 from Local Bank for a five-year period with loan repayments t made on a quarterly basis. The

15 Question 15 LKN Ltd has borrowed $200,000 from Local Bank

Question 15 LKN Ltd has borrowed $200,000 from Local Bank for a five-year period with loan repayments t made on a quarterly basis. The fixed rate interest rate on the loan is 10% p.a. with interest compounded quarterly. The total principal repaid in the first quarter is closest to: $12,829. $8,025. $7,829. $5,000

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