SCENARIO:

1. Right after the interest-only period expires, your interest rate p.a. compouded monthly becomes half. To pay off the loan by the original date, you reduce monthly P&I repayment amount. Calculate the amount of interest you can save in this case.

2. You lose your job because of COVID-19 and the bank agrees that you do not make any repayment from the beginning of the month 22 until the end of the month 36. From the month 37 you still repay the same P&I amount each month end. By the end of which month can you fully repay the loan?

NPER1 Number of months with interest only repayments	21
NPER 2 Number of months with P&I repayments	156
Interest rate per month (jm/m)	8%/12
Loan Amount	922,302
Fixed monthly repayment (P&I) after the interest only periods expires	9,528.06

* Using these variables to create the Loan Amortisation Schedule and solve above questions