Mary borrows 420 000 to start a small business she agrees, Ask an Expert

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Mary borrows $420 000 to start a small business. She agrees to repay the loan over a period of five years, from the time the loan is granted. The first payment, however, will be nine months after the granting of the loan. The interest rate is 18% p.a. compounded quarterly. Calculate the quarterly instalments.

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Operation Management, Management Studies

Category:- Operation Management
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