Prepare entire duration amortization schedule as follows

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Reference no: EM131984321

Prepare (using spread sheet package)an entire duration amortization schedule as follows: Initial amount:shs 6,000,000,rate of interest:16% per annum,Period:10 years payable monthly in arrears. An additional amount of shs300,000 is repaid with th 30th Installment,and the monthly installment recomputed to fully pay the loan balance in the inially agreed period.The rate of interest is adjusted to 18% per annum with effect from the end of fourth year.The monthly repayment is recomputed to fully pay the loan balance in the initially agreed period.The borrower enhances his monthly repayments by shs10,000 per months from the end of month 74.The borrower is advanced an additional shs 1,500,000 at the end of months 80 and the monthly repayment is computed to fully pay the loan balance in 9 months less than had initially been agreed.

Reference no: EM131984321

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