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(iii) A business has acquired Kshs 200 million bank loan to finance its investments. The loan is payable for a period of 30 years on

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(iii) A business has acquired Kshs 200 million bank loan to finance its investments. The loan is payable for a period of 30 years on monthly basis. The interest for the loan is 12% p.a. Required: 1. Compute monthly payment for the 360 months. 2. Compute mortgage amortization schedule repayments for the first 5 months detailing the following: Page 3 of 4 - Beginning of the month loan balance - Interest for each month - Principal repayment for each of the months - End of the year loan balance

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