Question

A man borrows 20,000 at 10% componded annually.if he repays 5000 at the end of first year and 10,000 at the end of second year.how much he has to pay to complete his account

Answer 1

interest of first year= 2000
principal of second year=15000
interest of second year=1500
principal of third year=15000-10000=5000
interest of third year=500
he paid=(5000+10000)=15000
he has to pay now=(20000-15000+2000+1500+500)
=9000