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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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