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Max takes a loan of RM 50,000 from HSBC Bank. The rate of ...

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Question

Accounting

Max takes a loan of RM 50,000 from HSBC Bank. The rate of
interest is 10% per annum. The first installment will be paid at
the end of year 5. Determine the amount of equal annual
installments if Max wishes to repay the amount in five
installments. Show the calculation in detail. Attach the answer
in picture format (JPEG.JPG.PNG).
image

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