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A company is contemplating a finance lease to import a heavy machinery for its industrial component manufacturing component. The supplying company is offering the below

A company is contemplating a finance lease to import a heavy machinery for its industrial component manufacturing component. The supplying company is offering the below terms for the lease: Invoice Price of Machinery - Rs. 75 million Customs Duty - Rs. 12.5 million Installation & Set-up - Rs. 1.25 million Minimum Down Payment - 20% of Invoice Price & all other expenses The remaining price can be paid in 32 equal quarterly instalments, after which the machinery is fully depreciated and of no scrap value. Interest rate is fixed at 9.5% pa. You are required to create a, excel model that can calculate the (a) EMI (b) Total Interest Paid (c) Principal amount repaid from 1st to 18th EMI (d) Interest amount paid as part of the 24th EMI (e) Principal amount paid as part of the 12th EMI (f) Create a loan amortization schedule

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