Question: QUESTION TWO Determine the equal end-of-year payment necessary to fully amortize a 600,000 loan on a four year term. Assume that payment is rendered Annually

QUESTION TWO

Determine the equal end-of-year payment necessary to fully amortize a 600,000 loan on a four year term. Assume that payment is rendered

  1. Annually (3 Marks)
  2. Semi-annual (4 Marks)

The rate of return is 12%

prepare amortization schedule.

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