x = 2

1) You want to buy a flat which is sold for TL x00000 cash. Instead, the seller offers you a chance to make quarter of the payment now and the rest in five annual installments with an interest rate of 15% a) Please show the situation after the initial payment, in timeline and equation form. (10 pts) b) What is the amount of each payment? Please calculate in excel. Write the excel formula. (5 pts) c) Fill in the amortization table below. (10 pts) Period Annual Installment Annual Interest Annual Principal Remaining Debt Payment Payment 1 2 3 4 5