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In this part of the assignment, you are required to prepare a loan repayment schedule for a mortgage loan you borrowed from the bank. The
In this part of the assignment, you are required to prepare a loan repayment schedule for a mortgage loan you borrowed from the bank. The loan is to be repaid by equal month-end repayments starting from the end of the first month. The monthly repayments include both the interest and the principal on the loan (P&I). The term of the loan is n years. Complete the table below showing the variables you need for the loan repayment schedule 9.00% Number of years you have to repay the loan, n. Number of months you have to repay the loan, n*m Nominal annual interest rate p.a compounded monthly (m) Effective monthly interest rate (i=jw/m) Original loan amount Fixed monthly repayment (P&I) amount $909,770 Answer must be positive e Loan Amortisation Schedule Interest paid Month Balance at the beginning of month Principal paid Balance at the end of month
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