Calculate the total interest and total repayments

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Question 1: Leon Kane and Antonio Lopez have founded Kane Lifestyle, a small business manufacturing quality furniture. They have taken out a $400,000 loan from the bank at an interest rate of 6% p.a. compounded yearly. The loan repayment is 4 years. Construct the loan schedule for the loan and calculate the total interest and total repayments.

Reference no: EM132608914

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