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Q2. You have now decided a course of action for Mr. Ahmed. Mr. Ahmed now needs to borrow OMR 140,400 on January 1, 2021 for
Q2. You have now decided a course of action for Mr. Ahmed. Mr. Ahmed now needs to borrow OMR 140,400 on January 1, 2021 for expansion purposes. His budget will allow him to make quarterly payments each year until December 31, 2022. The interest expense is 12 % per annum. Calculate the payment amount and draw the loan amortization schedule. (15 mark) (round-of all the calculations)
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