Francis is undertaking a building project at his home. An analysis he did shows that he will be better off to contract loan at prodential bank for the project instead of saving to undertake the project.

He plans to borrow Ghc60000 for the project and decides to pay for the loan facility within six years. Providence Bank will charge 25% interest in the loan but will waive all other charges.

Determine how much will pay each year and prepare a loan amortization schedule for the repayment of the facility