Question

21. Rs. 2,500 is paid every year for 10 years to pay off a loan. What is the loan amount if interest
rate be 14% per annum compounded annually?
(b)
15,847.90
16,345.11
(a) 13,040.27
(c) 14,674.21​

Answer 1

Answer:

Step-by-step explanation:

V(Future value)=A.P.(n,i)  

Here A=2500  

n=10  

i=.14

V=2500×P(10,.14)  

=2500×5.21611

=13,040.27