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What will be interest paid for 90th emi

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Reference no: EM132932933

You are a relationship manager at an international bank. A customer who recently got admission at a prestigious Business School approached you for an education loan of Rs. 800,000. Your bank offers the education loan at 9.8 percent to be repaid in 10 years in EMIs. You are assigned the task of preparing the amortisation schedule for the customer and answer the following.

-Prepare the amortisation schedule for the first 5 EMIs.

-What will be interest paid for 90th EMI?

-What will be the loan balance after 90th EMI?

-What is the total interest paid for the loan?

Reference no: EM132932933

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