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A $10,000 loan is to be repaid with 7 equal half-yearly instalments, the first repayment being in 6 months from today. Interest is at 7%p.a. compounding half-yearly. Calculate the principal repaid in the
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Nov 20, 2021
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A $10,000 loan is to be repaid with 7 equal half-yearly instalments, the first repayment being in
6 months from today. Interest is at 7%p.a. compounding half-yearly. Calculate the principal
repaid in the fourth instalment.
(use excel)
Mathematics
college
Ehsan Sajjad
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Ehsan Sajjad
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Answer: $1,415.47
Explanation:
see spreadsheet below
Ggariepy
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Nov 26, 2021
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Ggariepy
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