Four years ago, you borrowed $300,000 for a ten-year period from ABC Bank at a stated...

Four years ago, you borrowed $300,000 for a ten-year period from ABC Bank at a stated interest rate of 10% p.a. with interest compounded quarterly. You have been making equal, quarterly payments on the loan during this time and now wish to repay the loan in full. The amount that you need to repay the bank today is closest to:

Expert Solution

Note -

Amortization table has been prepared for only for years as required in the question.

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jeff jeffy answered 1 year ago

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