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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

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?

(d) Construct amortization table

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