The IE440 investment group borrows $20,000 from a CRDB bank at a 9% annual interest...
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Finance
The IE440 investment group borrows $20,000 from a CRDB bank at a 9% annual interest rate in order to buy a machine. In addition. The company pays a $200 loan origination fee when the loan commences. The CRDB bank offers two repayment plans, one with equal payments made at the end of every year for the next five years and the other with a single payment made after the loan period of five years.
a)Draw cash flow diagram.
b)Describe the repayment plans as required by the CRDB Bank.
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