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Prepare amortization table showing what will be installment

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Reference no: EM133011257

Problem 1: The bank asks you to pay an installment amount of $5000 at the end of every year. The bank will give you a loan of $18000. The loan is for 7 years and interest is 12%. Will you accept this offer? Why or why not? How much should be your loan amount. Prepare an amortization table showing what will be your installment if you borrowed 18000

Reference no: EM133011257

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