What would be the amount of the monthly installment

Assignment Help Accounting Basics

Reference no: EM132732997

Questions -

Q1. Mr. Aslam deposited Rs 500,000 in National Saving Center. If the interest rate is 12% per annum, than calculate the Future Value after 4 years if interest is;

a) Compounded annually

b) Compounded semi-annually,

c) Compounded Quarterly

d) Compounded monthly

e) Compounded on daily basis.

Q2. A loan of Rs. 800,000 is to be paid back in 5 years in monthly installments, the first one starting after one month from the date of loan. If the interest is charged at the rate of 12% per annum on the unpaid principal, what would be the amount of the monthly installment?

Q3. Akbar purchased Honda Civic car through bank lease financing. The total value of the car is Rs 3,600,000 of which Akbar made 50% down payment and balance amount was leased for 3 years. What would be the amount of the monthly installment if interest rate is KIBOR + 5%. (KIBOR is assumed to be 7%). The installment is due at the start of each month.

Required:

a) Calculate the monthly installment.

b) Amortization Schedule for 36 months.

Reference no: EM132732997

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