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Amortisation Schedule Monisha has bought an iPhone costing 100,000 at 9.5 percent p.a, repayable in 5 equated annual instalments. Draw the amortisation schedule for the loan. Waiting Period James has now joined as a finance manager in an MNC. He can save every year 60 percent of his annual salary of * 10 lakhs (that will be received at the end of the year) and which is expected to increase at the rate of 10 percent every year. He has decided to marry only once his savings crosses 1 crore mark. If he keeps his savings in a bank that offers 8 percent interest, how many years should he wait to get married? Growing Annuities Prakash plans to retire after 20 years with a corpus of * 50 million. He receives salary annually and he expects to receive 3 million at the end of the current year. His salary will increase at the rate of 10 percent per year and he can earn 9 percent on his investment. He plans to save a constant percentage of his salary; what should that percentage be? Discount Interest Loans You borrow 100,000 for one year at an interest rate of 15 percent from a lender who deducts the interest in advance from the loan upfront and gives you 85000. What is the EAR