a) You have the following information. How much does the borrower need to pay per month? - Loan amount is RM 225,000. -

[answerhappygod]

a) You have the following information. How much does the
borrower need to pay per month?
- Loan amount is RM 225,000.
- 8% interest rate compounded quarterly.
- Period: 8 years.
- Payment made at the end of each month.
b) Prepare a complete amortization schedule that shows the first
and last 20 rows.
c) Calculate the total interest rate for this loan.
d) Suppose at the end of 4 years, he pays a lump sum of RM 20000
to reduce this outstanding balance. Recalculate the month amount
that he needs to pay for the remaining years.