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PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN
PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN
LECTURE 4b – SINGLE LECTURE 4b – SINGLE PAYMENT LOANPAYMENT LOAN
PP/MB-IPB/10 22
Loan amount = $ 100Loan amount = $ 100
Interest rate = 12% (APR= Annual Percentage Interest rate = 12% (APR= Annual Percentage Rate)Rate)
Loan term = 3 monthsLoan term = 3 monthsCalculate:Calculate:
1.1. Interest is paid in arrears (at the end of the period or Interest is paid in arrears (at the end of the period or year)year)
2.2. Interest is paid in advance (Discount Loan)Interest is paid in advance (Discount Loan)
3.3. 10% Compensating Balance is required 10% Compensating Balance is required
4.4. Compensating Balance is not requiredCompensating Balance is not required
SINGLE PAYMENT LOANSSINGLE PAYMENT LOANS
PP/MB-IPB/10 33
SINGLE PAYMENT LOANSSINGLE PAYMENT LOANS
Case 1Case 1Interest in ArrearsInterest in Arrears
No Compensating BalanceNo Compensating Balance
Case 2Case 2Interest in ArrearsInterest in Arrears
10% Compensating 10% Compensating BalanceBalance
Time0.250
100 103
APR = (3/100)*(12/3) = 12.00%
APY = (103/100) (12/3) – 1 = 12.55%
Time0.250
90 93
APR = (3/90)*(12/3) = 13.33%
APY = (93/90) (12/3) – 1 = 14.01%
PP/MB-IPB/10 44
SINGLE PAYMENT LOANSSINGLE PAYMENT LOANS
Case 3Case 3Discount Loan (Interest in Discount Loan (Interest in Advance)Advance)
No Compensating BalanceNo Compensating Balance
Case 4Case 4Discount Loan (Interest in Discount Loan (Interest in Advance)Advance)
10% Compensating 10% Compensating BalanceBalance
Time0.250
97 100
APR = (3/97)*(12/3) = 12.37%
APY = (100/97) (12/3) – 1 = 12.96%
Time0.250
87 90
APR = (3/87)*(12/3) = 13.79%
APY = (90/87) (12/3) – 1 = 14.52%
PP/MB-IPB/10
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