Question: Please do it manually, not with excel. Thankyou. 8. A man is repaying a $10000 loan by the sinking-fund method. His total monthly expense is

Please do it manually, not with excel. Thankyou. 8. A man

Please do it manually, not with excel. Thankyou.

8. A man is repaying a $10000 loan by the sinking-fund method. His total monthly expense is $300. Out of this $300, interest is paid to the lender at i(12) = 12 % and a deposit is made to a sinking fund earning i(12) = 9%. Determine the duration of the loan and the final smaller payment

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