Answer to Question #213500 in Finance for Kalonji

Question #213500

Mr mdlalose starts his own business and takes out a loan of R450 000

He repays the loan in four equal annual installments starting one year after the loan was granted

Calculate his annual repayments if the interest charged on the outstanding balance is 10% p.a. compounded annually


1
Expert's answer
2021-07-05T08:57:32-0400

Given information

Loan amount = R450,000

Time Period = 4 years

Interest rate =10% p.a compounded annually

Here,

It can be calculated as follows:


So the Annual Repayment Payment of Mr mdlalose would be R1,41,961.86

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS