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(a) Assume that a firm borrows $2,000 to be repaid in three equal installments at the end of each of the next 3 years. The

image text in transcribed (a) Assume that a firm borrows $2,000 to be repaid in three equal installments at the end of each of the next 3 years. The bank wants 12 percent interest. Compute the amount of each payment by setting up the amortization table. (13 marks) (b) There are TWO (2) components that makes up financial system. Critically discuss both. (12 marks)

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