Saharan Debt Negotiations.

The country of Sahara is negotiating a new loan agreement with a consortium of international banks. Both sides have a tentative agreement on the Principal$220220 million. But there are still wide differences of opinion on the final interest rate and maturity. The banks would like a shorterloan, four years inlength, while Sahara would prefer a long maturity of six years. The banks also believe the interest rate will need to be 12.255% perannum, but Sahara believes that is too high, arguing for 11.754%.

Loan		0
Principal		$220,000,000
Interest rate		12.255%
Maturity (years)		6
Payments	1		2		3	4	5	6
Interest	26,961,000		23,660,034		19,954,534	15,794,926	11,125,557	5,883,958
Principal	26,935,668.17		30,236,634.17		33,942,134.17	38,101,742.17	42,771,111.17	48,012,710.17
Total	53,896,668.17		53,896,668.17		53,896,668.17	53,896,668.17	53,896,668.17	53,896,668.17

What would be the annual amortizing loan payments for the bankconsortiums proposal?

What would be the annual amortizing loan payments forSaharas loanpreferences?

How much would annual payments drop on the bankconsortiums proposal if the same loan was stretched out from four to sixyears?

The correct answers are

72,820,946.17

53,137,369.36

18,924,278.00

Please show me the steps to get these correct answers,

Thank you