business finance

QUESTION 3 Mr Sakuran borrow RM50,000 that he will repay within the period of five years. He is being charged with an interest of 6 percent per year. Based on this information, answer the following questions: (a) Prepare an amortization schedule for Mr Sakuran if he is paying an equal annual payment throughout the period. (15 marks) (b) Prepare another amortization schedule for Mr Sakuran if the bank requires his loan to be reduce by same principal amount annually. (10 marks)