What-If you have $185,500 available for part procurement for a new assembly line in your company, however the invoice amount is $500,000. If the interest rate of the loan is 9.5% per year compounded weekly.

Find the following:

• Based on the information above (ONLY) - Calculate the equated monthly installment if the loan payment duration is for 4 years.

If the monthly payment your company can afford without the risk of loan default is $6,000/ month.

• Find the equipment cost if the loan payment duration is for 4 years.
• Based on your calculation using $6,000/month EMI, what is the cost savings on the equipment considering the original invoice amount of $500,000?

1) Find the equipment cost if the loan payment duration is for 4 years.

2)Calculate the equated monthly installment if the loan payment duration is for 4 years. 3)Based on your calculation using $6,000/month EMI, what is the cost savings on the equipment considering the original invoice amount of $500,000?

[Hint: Subtract the new cost of equipment using EMI of $6,000 from $500,000]