800/( 1+ 12%)+800/( 1+ 12%)^2+800/( 1+ 12%)^3+800/( 1+ 12%)^4=7 14.29+637.76+569.42+508.4 1=2429.88
The second step is to calculate the present value of the due repayment principal. 8000/( 1+ 12%)^4=5084. 14
The third step is to sum the present value of principal and interest.
5084. 14+2429.88=75 14.02
The loan actually received by Hongta Company: 75 1.402 million yuan.