Kumar has taken an INR 100000 personal loan at a rate of 9.5% per annum for 8 years.

a) What would the annual repayment be? b) Develop the amortization schedule for the first 4 years.

After the fourth year, the interest rate decreases to 7.5% per annum.

c) What would the new annual repayment be? d) Complete the amortization schedule you developed in part (b)