(Answered) Find the annual costs for repaying a 20000 loan at 5

Management Studies

Find the annual costs for repaying a $20.000 loan at 5% interest to be repaid in six level payments made at the end of each year. The net interest paid each year is the interest paid on the loan less the interest earned on the sinking fund. Find the net interest paid each year assuming that the sinking fund earns 6%.

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