The amount borrowed of a loan is $50 million (June 30, 2019), the nominal interest rate associated with the loan is 5%. After making 16 monthly repayments of 2 million (January 31, 2020 until and including April 30, 2021), a single payment of $2 million (May 31, 2021) and another single payment of $10 million (April 30, 2022). 

What is the outstanding value of the loan on the maturity date?

Answer rating: 100% (QA)

To solve this problem we need to calculate the outstanding value of the ... View the full answer