Question: Part B (10 marks) Lang Industrial Systems Inc. is thinking of expanding its operations and is considering financing the expansion by borrowing from a local

Part B (10 marks) Lang Industrial Systems Inc. is thinking of

Part B (10 marks) Lang Industrial Systems Inc. is thinking of expanding its operations and is considering financing the expansion by borrowing from a local bank. Under consideration is a loan for $1.25 million dollars, repayment monthly for 30 years. Required: a) If the interest rate on the loan is 6%, calculate the monthly repayment. 6 marks b) Prepare an amortization schedule for the first two (2) months of the loan. 4 marks

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