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Fill in the last blank please. (to get the answer, the repay exit is X...

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Accounting

Fill in the last blank please. (to get the answer, the repay exit is X years later.)

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Assume that you borrow 1 million JPY from some bank under the system of 5% yearly compound interest, and repay 80,000 JPY annually under the plan of total equally payment We would like to know the repay exit. you can calculate. 1-inc = First, we calculate the value On the other hand, we fill the following table: (1+ Go) 1.05 1.1025 to get the answer, the repay exit is X av exit is X (years later)

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