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X = 6 X = 6 1) You want to buy a flat which is sold for TL 6x0000 cash. Instead, the seller offers you

X = 6

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X = 6

1) You want to buy a flat which is sold for TL 6x0000 cash. Instead, the seller offers you a chance to make 1/10 of the payment now and the rest in three annual installments with an interest rate of 1x%. a) Please show the situation after the initial payment, in timeline and equation form. (8 pts) b) What is the amount of each payment? Please calculate in excel. Write the excel formula. (4 pts) c) Fill in the amortization table below. (8 pts) Period Annual Installment Annual Interest Payment Annual Principal Payment Remaining Debt 1 2 3

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