ABC recently obtained a 6 year Rs. 60,000 loan. The loan carries an 8 % compound annual interest rate and calls for annual instalment payments at the end of next 6 years.

(a) What is the amount of annual instalment?

(b) How much of the first years payment is principle?

(c) How much total interest will be paid over the life of the loan?

(d) Construct amortization table