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Product Assessment Task
Part A: Short Activities
Question 1
You are borrowing $250,000 at 5.0 % pa to be repaid over the next 5 years with equal annual instalment. Calculate following:
- Calculate the annual repayments by referring to the online help user guide of any Australian bank.
- How much is the balance owing on the loan after the 2nd instalment is paid
- Draw up an amortisation schedule for the entire loan with labels and titles.
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