Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Get detailed and accurate answers to your questions from a community of experts on our comprehensive Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

Project one ABC Company present loan proposal to awash international bank and the Bank provides four credit schema to the loan. The first option is to borrow birr 100,000 mortgage to be paid with 6 years at equal installment at the rate of 15% Sami- annually. The second, third and fourth option are to borrow birr 250,000 for 30 months at equal installment at rate of 10% at semi-annually, birr 150,000 for a year at equal installment at rate of 13% semi-annually and birr 200,000 for 18 months at equal installment at rate of 8% semiannually respectively. The bank agreed with the company and the loan disbursed with additional service charge of birr 21,000 (one time borrowing cost for the three loans). Calculate interest expenses and other charges At the end of first year


Sagot :