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125,000 account balance in his saving account required Calculate the interest expense and saving book ?
Question 1 1. TOK N DO plc. in quest for expansion secured Two Million Dollars ($2M) loan from JP Morgan at risk free rate of 10% annually. The loan is expected to be repaid within 5 years. You are required to: a. Determine the periodic payment ? b. Determine the total interest paid after the third year ? c. Determine the actual repayment up to year 3?