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Perform the calculation to achieve the total amount of loan

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Question - On the 30th June 20xx you advise your client, XYZ company to take out a loan. The business contact requires a loan to fund a long-term amount where $100,000 is borrowed and compounded at 10% annually for five years.

The formula is: FV = PV (1+i)n

Perform the calculation to achieve the total amount of the loan over the five years. What is the annual repayment amount?

Present the loan in an appropriate table showing the zero closing balance at the end of five years.

Reference no: EM132248484

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