D3) A loan of R1 000 000,00 is granted for threeyears at a compound interest rate of 8,25%per annum compounded monthly. Anextract from the amortization table isshown.Payment OpeningPaymentnumberBalance9798 588,7631 451,8210B31 451,8211746 487,2231 451,8212720 167,5031 451,8213693 666,8331 451,82Determine the values of C and D in the tableabove.O A. C5 132,10 D= 666 983,96O B. C 5 041,63 D = 666 983,96O C. C 5 041,63 D = 662 215,00O D. C5 132,10 D= 662 215,00PrincipalA26 140,0126 319,7226 500,6726 682,86Interest5 490,305 311,81C4 951,154 768,96OutstandingBalance772 627,23746 487,22720 167,50693 666,83D

Solution:- When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Answered: A loan of R1 000 000,00 is granted for…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 12P

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