help mee plss 2.A person got a loan of 200.000 Ł from Bank A at 12 % annual interest rate. The bondwill be repaid in 24 months with equal instalments. 4 Months later he learned that hecould get the loan from bank Bank B, at 11 % interest rate. Bank B , conceded to therequest. Therefore he will pay back the loan to Bank A and get the same amount ofloan from Bank B. What is the amount of loan to be paid back to Bank A? Prepare abank amortization table showing the remainder of the loan at the end of the 4th monthwwwwwww.wwwwwwwww wwwwww

Simple interest is defined as Interest that is calculated as a simple percentage of the original…

Answered: loan from Bank B. What is the amount of…

loan from Bank B. What is the amount of loan to be paid back to Bank A? Prepare a bank amortization table showing the remainder of the loan at the end of the 4th month

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 19P

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Question

help mee plss

2.A person got a loan of 200.000 Ł from Bank A at 12 % annual interest rate. The bond
will be repaid in 24 months with equal instalments. 4 Months later he learned that he
could get the loan from bank Bank B, at 11 % interest rate. Bank B , conceded to the
request. Therefore he will pay back the loan to Bank A and get the same amount of
loan from Bank B. What is the amount of loan to be paid back to Bank A? Prepare a
bank amortization table showing the remainder of the loan at the end of the 4th month
wwwww
ww.
www
wwww
ww www
www

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