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Question 3. Consider a 6-year loan amortization with two-year grace period (where you do not need to pay any Installment, Interest and Principal payment to

Question 3. Consider a 6-year loan amortization with two-year grace period (where you do not need to pay any Installment, Interest and Principal payment to the bank in Year 1 and Year 2, however interest will be accrued on your principal). You borrow 100.000 TL initially (Year 0), and repay it in 6 equal annual year-end payments from Year 2 thru 8. If the interest rate is 15 percent, fill in the following table. (15 points)

YEAR

Total Debt at the Beginning of each Period

Installment Amount

Interest

Principal

Amortization

Remaining Debt

0

1

2

3

4

5

6

7

8

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