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Nina has decided to take out a loan of $200,000 today from Citibank.
• Loan term: 10 years
• Equal monthly repayments where the first repayment will be made a month from today and the final repayment will be ten years from today
• The interest charged is 8% p.a., compounded monthly
1) Calculate the size of each monthly repayment and What is the loan outstanding amount after 4 years (i.e. after the 48th payment)?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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