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a) Sam took a RM5,000 bank loan from SEA Bank. The bank charged Sam 4.5% interest and requires him to pay at the end of
Posted: Sun Jul 03, 2022 12:52 pm
by answerhappygod
- A Sam Took A Rm5 000 Bank Loan From Sea Bank The Bank Charged Sam 4 5 Interest And Requires Him To Pay At The End Of 1 (16.21 KiB) Viewed 15 times
a) Sam took a RM5,000 bank loan from SEA Bank. The bank charged Sam 4.5% interest and requires him to pay at the end of each year for 4 years. Calculate the yearly repayment amount, and complete the following loan amortisation schedule. Year 1 2 3 4 Beginning Value Repayment amount Interest paid Principal paid Ending Value (10 marks)