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1.)A loan of 12,000 was borrowed from a bank at 14% per annum. calculate (i) the intrest loan at the end of the first year. (ii)the total amount owing at the end of the first year​
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1.)A loan of 12,000 was borrowed from a bank at 14% per annum. calculate (i) the intrest loan at the end of the first year.

(ii)the total amount owing at the end of the first year​

User Unique
by
3.3k points

1 Answer

3 votes

Answer:

(i) interest = $1680

(ii) total amount = 13680

Explanation:

Interest.

12000 × 14/100

=168000/100

=1680

Total amount.

Interest + Loan

1680 + 12000

=13680

User Mgol
by
3.4k points
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