a) Mr Simba borrowed sh. 800,000 for a musical system at an annual rate of 15 per cent. The loan is to be repaid on a monthly basis, payable at the end of each month for five years.
i. What will be the periodic installment? (2 marks)
ii. Prepare a loan amortization schedule for the first five months. (4marks)
iii. Compute the total amount of interest paid by Mr. Simba for the five month period. (2 marks)
b) XYZ bank pays 12% p.a interest quarterly. If sh. 10,000 is deposited initially, how much shall it accumulate to at the end of 43 years? (2 marks)
c) Discuss the conflicts that can arise between management and shareholders. (5 marks)
d) Explain the remedies that be taken by the shareholders to overcome the above conflicts. (5 marks)
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