How much of this will be the principal

Assignment Help Finance Basics

Reference no: EM133223838

Question: The clients of the bank agree to the following loan repayment schedule:

Repayment time: 30 years.

Frequency of payment: annual.

Repayment amount: £1'841'700 per year.

First repayment: one year from now.

1. How much money will the clients have paid back to the bank at the end of the loan repayment schedule?

2. How much of this will be the principal and how much will be the interest?

Reference no: EM133223838

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