Question

1,/
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

Step-by-step explanation:

21200

DIVIDE INTO TWO EQUAL INSTALLMENTS.

○ 10600

int on first instalment = 2120

○ 10600

int on second instalments = 1060