Pyton Company Limited is an overseas investor who is interested in developing a piece crown land on
Fantastic news! We've Found the answer you've been seeking!
Question:
Pyton Company Limited is an overseas investor who is interested in developing a piece crown land on the eastern beach coast of Grand Turk. Based on the real estate market the cost is estimated at $20 million dollars for the development. The company has already secured $2 million of the overall cost. The Financial Manager has requested and received information from two banks about obtaining a loan for the difference as follows:
1. CIBC requires that the company make a deposit of 10% to obtain the balance required, payable within 6 years at 15%.
2. Scotiabank is offering 100% financing for 8 years at 18%.
3. Both loans will begin at the end of the year.
Prepare the amortization schedule for the CIBC loan option.
Related Book For
Posted Date: