Please answer question 6 (a to b)

6. (a) (i) A loan of K300,000 is to be repaid by level monthly instalments over 12 years using an interest rate of 18% pa. What is the capital repaid in the sixth year? (ii) A woman repays a loan of K90,000 by monthly payments of K32,000 for 3 years. Calculate the APR for this arrangement. (iii) A borrower repays a loan effected on 1 January 2019 by making six equal monthly payments starting on 31 July 2019. If interest on the loan is calculated using a at rate of 12.4% pa, calculate the APR for this arrangement. (b) A woman takes out a home improvement loan for K150,000 over 5 years. She makes monthly repayments in arrears and the bank charges an effective rate of interest of 9% pa. (i) What is the monthly repayment? (ii) How much interest does she pay in the third year? (iii) How much capital is repaid in the 20th instalment? (iv) At the end of the fourth year she decides to make further improvements to her house and wants to borrow another K90,000 at that stage. If her total balance is to be repaid over 3 years by level monthly payments and there is no alteration to the interest rate, how much is each payment