Question

1. A loan of 21,200 is to be returned in two equal annual instalments. If the rate
of interest is 12% per annum, compounded annually, calculate the value of each
instalment.​

Answer 1

Answer:

28,18,88,768

Step-by-step explanation:

A = p(1 + r/100)^t

or A = 21200(112/100)^t

or A = (212*112)^2

or A = 56,37,77,536

A is in 2 installments, so for each installment's price is A/2 = 28,18,88,768

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