QUESTION ONE Blake has taken a 6-year bank loan of ksh 1,400,000 from ABSA bank under the terms that provide for an interest of 12% p.a. on a reducing balance, compounded monthly. Required: a) Calculate the loan repayment amount per month (2 Marks) b) Determine the total interest amount that he will have paid upon maturity (2 Marks) c) Prepare a 10-month amortization schedule for this loan (6 Marks) (Total: 10 Marks)