You plan to take a personal loan of Rs.50,000 at a rate of 12% per annum...

You plan to take a personal loan of Rs.50,000 at a rate of 12% per annum to buy a computer. The loan is to be paid in 5 equal quarterly installments, the first of which is to be paid at the time of buying and rest four at end of each quarter henceforth.
a)
What is the installment amount?
(2)
b)
Prepare the amortization schedule.

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Expert Solution

Formulas will be as follows:

jeff jeffy answered 2 years ago

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