Indonext Company borrows Rs 700,000 at an interest rate of 10%. The loan is to be repaid in 5 equal annual instalments payable at the end of each of the next 5 years. You are required to do the following.

(a) What is the amount of each instalment? (b) Prepare the loan amortization schedule. (c) If the Indonext Company would like to prepay the loan outstanding at the beginning of 4th year, what will be that amount?