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Q2 A loan of RM 500,000 bearing interest at 4% compounded monthly is to be amortised by 120 monthly payments. (a) Calculate the monthly payment,

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Q2 A loan of RM 500,000 bearing interest at 4% compounded monthly is to be amortised by 120 monthly payments. (a) Calculate the monthly payment, (7 marks) (CLO3:PLO6:C3)(CLO3:PLO7:C3) (b) construct an amortization schedule for the first five months and the last 120th month. (12 marks) (CLO3:PLO6:C4)(CLO3:PLO7:C4)

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