You want to buy a flat which is sold for TL 200000 cash. Instead, the seller offers you a chance to make a 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.

b ) What is the amount of each payment? Please calculate in excel. Write the excel formula.

c ) Fill in the amortization table below.

show all calculations.

Period Annual Installment Annual Interest Payment Annual Principal Payment Remaining Debt 1 2 3 4 5