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If you are planning to have a bank loan for the purchase of house. The bank has offered Rs. 1million loan for 3 years at

If you are planning to have a bank loan for the purchase of house. The bank has offered Rs. 1million loan for 3 years at an interest rate of 12% compounded monthly.

Required:

1- Calculate monthly installment of the loan.

2- Prepare amortization table for 8 Months.

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