3 Questions
What is the amount of the yearly instalment for the loan?
Rs. 2,142,857
What is the total interest paid over the seven years for the loan?
Rs. 2,500,000
What is the outstanding balance after the fourth yearly instalment?
Rs. 4,285,714
Test your financial calculation skills with this quiz on loan amortization. Calculate the yearly instalment amount and create a loan amortization schedule for a Rs. 15 lakh loan borrowed at 14% per annum for seven years, to be repaid in seven equal yearly instalments. This quiz will help you understand the process of loan repayment and amortization.
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