Question: 1. Prepare (using a spreadsheet package) an entire duration amortization schedule as follows: Initial amount: Shs 5,000,000/=; rate of interest: 13% per annum; period: 12

1. Prepare (using a spreadsheet package) an entire duration amortization schedule as follows: Initial amount: Shs 5,000,000/=; rate of interest: 13% per annum; period: 12 years payable monthly in arrears. An additional amount of Shs 300,000/= is repaid with the 35th installment, and the monthly installment recomputed to fully pay the loan balance in the initially agreed period. The rate of interest is adjusted to 15% per annum with effect from the end of the fifth year. The monthly repayment is recomputed to fully pay the loan balance in the initially agreed period. The borrower enhances his monthly repayments by Shs 11,000/= per month from the end of month 84. The borrower is advanced an additional Shs 600,000/= at the end of month 102 and the monthly repayment is recomputed to fully pay the loan balance in 11 months less than had initially been agreed.

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