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A loan of GH¢10,000 is being repaid with annual payments for 10 years using the Sinking fund method. The loan charges 10
Posted: Tue Apr 26, 2022 10:00 am
by answerhappygod
- A Loan Of Gh 10 000 Is Being Repaid With Annual Payments For 10 Years Using The Sinking Fund Method The Loan Charges 10 1 (46.22 KiB) Viewed 40 times
A loan of GH¢10,000 is being repaid with annual payments for 10 years using the Sinking fund method. The loan charges 10% interest and the sinking fund earns 8% Calculate the interest payment that is paid annually to service the loan. [1 Mark] i) Calculate the sinking fund payment made amually. 2 Marks in Calculate the amount in the sinking fund immediately after the deposit made at the end of 5 years. [2 Marks iv) ('reate the sinking fund schedule for the loan. [5 Marks Don't use any software I want hardwriting. Please