You have an annual installment loan of Rs.150,000 from ABC bank for 5 years. If the loan requires an annual interest rate of 5% and the installments are to be paid at the end of each year, prepare a detailed breakup about the loan repayment indicating for the end of each year, the annual installment, the interest paid, the principal repaid and the remaining principal? Q2. Prepare the same schedule as above assuming that payments of installments are made at the beginning of each year.
You have an annual installment loan of Rs.150,000 from ABC bank for 5 years. If the loan requires an annual interest rate of 5% and the installments are to be paid at the end of each year, prepare a detailed breakup about the loan repayment indicating for the end of each year, the annual installment, the interest paid, the principal repaid and the remaining principal? Q2. Prepare the same schedule as above assuming that payments of installments are made at the beginning of each year.
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 14P
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Q1. You have an annual installment loan of Rs.150,000 from ABC bank for 5 years. If the loan requires an annual interest rate of 5% and the installments are to be paid at the end of each year, prepare a detailed breakup about the loan repayment indicating for the end of each year, the annual installment, the interest paid, the principal repaid and the remaining principal?
Q2. Prepare the same schedule as above assuming that payments of installments are made at the beginning of each year.
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