Answer to Question #277516 in Financial Math for Dae

Question

A loan of 10000 is ro be repaid over 10 years by a lavel annuity payable monthly in arrears. The amount of the monthly payment is calculated on interest rate of 1% per month effective. Find

1. Monthly installments

2.Total capital repaid and interest paid in the first and last year respectively

3. After which monthly repayment the outstanding loan is firat less than 5000

4. For which monthly repayment the capital repaid firat exceeds the interest