Pasomal limited borrowed GHc 120,000 at 28% to finance a new factory cooling system. The debt will

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Pasomal limited borrowed GHc 120,000 at 28% to finance a new factory cooling system. The debt will be discharged at the end of 5 years with regular annual payment into a sinking fund that pays 20% interests per annum

i. Calculate the Annual Payment into the fund

ii. Construct a sinking fund schedule assuming that the payment into the fund is made at the end of the first year.

Related Book For answer-question

Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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Posted Date: Mar 22, 2023 08:32 AM

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Pasomal limited borrowed GHc 120,000 at 28% to finance a new factory cooling system. The debt will

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Part i Calculate the Annual Payment into the fund This involves calculating the annual sinking fund ... View the full answer

Finite Mathematics and Its Applications

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