Redeemable loan note at par

This topic has 5 replies, 2 voices, and was last updated 10 years ago by MikeLittle.

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March 1, 2016 at 9:22 pm #302930
qurrahtulain3
Member
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“loan issued on 1st nov 2016 $12m at par interest 5%.
loan redeemable on 31 oct 2016, similar loan got 8.6% interest.
find Equity and Liability”
I got: Equity $ 1.11m
Liability $ 10.89
my answer is wrong.
March 2, 2016 at 8:24 am #302971
MikeLittle
Keymaster
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So, please confirm one thing for me ….. this loan that has been borrowed is repayable on the day BEFORE it was borrowed?
March 2, 2016 at 12:49 pm #303009
qurrahtulain3
Member
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no
March 2, 2016 at 7:08 pm #303094
MikeLittle
Keymaster
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So ……… ?
March 2, 2016 at 8:27 pm #303116
qurrahtulain3
Member
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i need the working for the answer
plz
March 3, 2016 at 9:22 am #303203
MikeLittle
Keymaster
- Topics: 27
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Look at your original post! Look particularly at the dates!
I ask again, is the loan to be repaid on the day before the loan was borrowed?
Now, tell me please, how can I answer you?
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