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Peterson Chacha borrowed sh.5,000,000 from XYZ commercial bank at an interest of14% per annum. The loan is to be repaid in equal annual installments over...

      

Peterson Chacha borrowed sh.5,000,000 from XYZ commercial bank at an interest of14% per annum. The loan is to be repaid in equal annual installments over a period of 4 years.
Interest on the loan is to be paid on a reducing balance basis.

Required:
Prepare a loan amortization schedule.

  

Answers


Francis
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francis1897 answered the question on November 7, 2022 at 08:58


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