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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 5,700,000/=; rate of interest: 12.5% per annum; period: 10 years payable monthly in
arrears.
An additional amount of Shs 550,000/= is repaid with the 20th installment, and the monthly installment
recomputed to fully pay the loan balance in the initially agreed period.
The rate of interest is adjusted to 13.8% 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 18,000/= per month from the end of month 64.
The borrower is advanced an additional Shs 700,000/= at the end of month 70 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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