Hampton Hardy
03/06/2024 · Elementary School
Buildmazing Developers need an amount of money to expand their business. They secure a loan at an interest rate of \( 10,50 \% \) per year, compounded annually. The outstanding balance will be repaid in equal payments of R137 828,00 at the end of each year for the next seven years. This is represented by the following timeline:
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The present value of the loan is approximately R645,000.00.
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