You have arranged a bank loan with your bank. You will have no monthly payments but have
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Question:
You have arranged a bank loan with your bank. You will have no monthly payments but have agreed to pay back $100 000 at the end of the year. The bank has stated that the annual interest rate they will charge you is 7.5%.
What is the value of the loan?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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