Loan amortization, annuity and repayment of outstanding balance

A) Calculate the monthly repayments on a $20,000 loan if interest rates are 12% p.a. compounded monthly, and it is to be repaid in equal instalments over 2.5 years.

b) What balance is outstanding immediately after the 18th payment is made?

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...s made?

Loan Amount
A) Repayments = -----------------------
Ani

20,000
= ---------------- (check annuity table for
25.8077 n = 30, i = 1%)

= $ 774.96

(* n = 2.5 x ...