Example 1(a):-
Machine to be purchased for 70 lacs Cost of Installation 10 lacs Banl agrees to give loan @ 75% of cost of project What is the amount of loan?
Cost of Project=80 lacs
Amount of loan=75% of 80 lacs=60 lacs
Example 1(b):-
Suppose rate of interest charged by bank is 12%
Amount to be repaid in 2 years in quarterly instalments of principal+ interest
Prepare repayment schedule for 2 years assuming loan taken on 1 April 2016
Example 1(c):-
Suppose rate of interest charged by bank is 12% Amount to be repaid in 2 years in equal quarterly installment of 854739 which includes both principal+ interest Prepare repayment schedule assuming loan taken on 1 April 2016
Example 1(d):-
Suppose rate of interest charged by bank is 12% Amount to be repaid in 2 years in equal quarterly installment of 854739 which includes both principal+ interest Prepare repayment schedule assuming loan taken on 1 August 2016
View Answer
Emi Formula Pmt (Rate %,No Of Installments,Loan Taken In Negative,0,0)
Example 2 :- MORATORIUM ON LOAN Loan taken from Bank on 1 Nov 2016 of 30 lacs There is moratorium period of 1 year after which loan is to be repaid in 6 quarterly installments During moratorium period,interest will be repaid but there will be no repayment of principal Prepare repayment schedule for 3 years assuming loan taken on 1 April 2016
