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Prepare ( using a spreadsheet package ) an entire duration amortization schedule as follows: Initial amount: Shs 5 , 7 0 0 , 0 0
Prepare using a spreadsheet package an entire duration amortization schedule as follows:
Initial amount: Shs ; rate of interest: per annum; period: years payable monthly in
arrears.
An additional amount of Shs is repaid with the th installment, and the monthly installment
recomputed to fully pay the loan balance in the initially agreed period.
The rate of interest is adjusted to per annum with effect from the end of the fourth year. The
monthly repayment is recomputed to fully pay the loan balance in twelve months less than the initially
agreed period.
The borrower enhances his monthly repayments by Shs per month from the end of month
The borrower is advanced an additional Shs at the end of month and the monthly
repayment is recomputed to fully pay the loan balance in the period that had initially been agreed upon.
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