2.Omega borrows Rs. 33,10,000 to finance the expenditure of his son’s education. The loan is to be repaid in three equal payments at the end of each of the next three years. The lender charges rate of interest at the rate of 10% per annum, compounded annually on the balance at the beginning of each year.
A.How much interest was included in each payment? How much repayment of principal was included in each payment?
B.Why does the amount of repayment of principal increase over time?
Answers
Answered by
1
Answer:
TOOO MUCH OF INTEREST IS THERE
Explanation:
Similar questions