Question 2 (20 marks) You are a new relationship manager in the commercial banking department of a local bank, and you need to identify which of the following companies qualify as a small and medium-sized enterprise (SME) in Singapore. Company Company Company X Y Z 105 98 200 280 Annual Sales Turnover ($ million) Number of Employees Does Company qualify as an SME? (indicate Yes or No) 128 150 REQUIRED: For each of the above companies: (i) indicate Yes or No on whether they qualify as an SME (ii) provide a short explanation to support your indication for each company Note: You do not need to reproduce the above table in your answer. 6 marks) (b) Your bank has also received an application from Alex Chan for a 3-year home renovation loan. The interest rate chargeable on the home renovation loan is 4p.a. on a flat rate basis. Alex earned an annual income of $60,000 and he does not have any other loan commitments. Calculate the following: (1) The maximum amount of home renovation loan that your bank will grant to Alex. (2 marks) (ii) The monthly instalment for the above home renovation loan that Alex has to service. (3 marks) (iii) The first 3 months of the amortised loan repayment schedule for the above home renovation loan. You are to use the following format for the amortised loan repayment schedule: Month Beginning Balance Total Payment Paid Interest Paid Principal Ending Paid Balance 1 2 3 (9 marks)