Current debts in order to pay equal amount on yearly basis

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Reference no: EM131457072

A company needs to reorganize its current debts in order to pay an equal amount on a yearly basis for 15 years, at an annual interest rate of 10%. The company debts are as follows:

Annual payments of $2000 for 12 years at 10% annually

Twelve monthly payments of $300 for an automobile (knowing that the annual interest rate = 12%)

A bill of $2000 (payment includes interest) at EOY2, at an annual interest rate of 12%

A bill of $21000 due today

(NOTE: the above debts are to be reorganized and be paid to one party collectively)

Reference no: EM131457072

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