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Smear PLC has applied for a loan from a local bank. The bank has agreed to extend the loan of $ 1, 500, 000/= to

Smear PLC has applied for a loan from a local bank. The bank has agreed to extend the loan of $ 1, 500, 000/= to the company at an interest rate of 16.5% p.a. over a period of 11/2 (1.5) years to enable it renovate its residence and provide needed working capital. This loan will be repaid in monthly installments at the end of each month over the loan period.

Required:

Prepare a loan repayments schedule for Smear PLC.

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