08 New Scenario (Independent): You lose your job because of COVID-19 and the bank agrees that you do not make any repayment from the beginning of month 112 to the end of month 128. The interest keeps accumulating during this period. From month 129, you will need to repay higher equal month-end repayments to pay off the loan by the original date. Calculate the increased month-end repayment amount. Useful clue: You can start with calculating the loan outstanding balance when you resume the repayments. You can use a function as an input/argument for another function. Number of years you have to repay the loan, n. 16 192 Number of months you have to repay the loan, n*m Nominal annual interest rate p.a compounded monthly (jm) Effective monthly interest rate (i=jm/m) 7.00% 0.58% Original loan amount $907,242 Fixed monthly repayment (P&I) amount $7,867.68 A