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Calculate the annual instalment amount

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Question - Fine Paper Producers Ltd. purchased a bleaching machine for Rs. 300000 from one of the leading dealers in Hyderabad. The company paid Rs. 60000 as the down payment and the rest of the amount, the supplier agreed to grant as a loan at an interest rate of 10%. In turn, the company agreed to pay the remaining amount in the form of four equal end-of-year payments. Calculate the annual instalment amount and also prepare the loan amortization schedule?

Reference no: EM133099223

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