Money Matters

Read and analyze the situation below then answer the questions that follow.

Suppose you are a regular employee in a finance company that offers a loan payable

through salary deduction. One of its privileges is availing a loan that offers a $5\%$

interest compounded annually for $1$ to $5$ years. You are thinking to apply for a loan

but you wanted to analyze if you can shoulder the monthly payment. Make a loan

schedule and fill up an application form that will help you decide the amount of loan

that you will make

Loan Schedule