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Your daughter has got admission to the university. The total cost to be incurred to...

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Finance

Your daughter has got admission to the university. The total cost to be incurred to cater for tuition, accommodation and transportation is

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12.000. Your bankers (HFC) have agreed to lend you GhC 12.000 and it would be repaid by making equal annual payment for four years. The amortization schedule how the loan will be repaid. Compute how much interest you will pay over the life of the loan. interest rate on the loan is 25% per year. Show with the help of an You plan to b

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