a loan of 100000 is to be paid back in 30 equal installments at the payable at the end of each year to cover principal and compound interest at 12%. find the amount of installment
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Step-by-step explanation:
When you take out a loan for a car, a home, or some other purchase, you pay back interest in addition to the principal, or original loan amount. Add a column in your loan amount chart for Total Payments. To calculate the total amount you will pay for the loan, multiply the monthly payment by the number of months.
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