Question

A man borrows & 16000 at 8% pa. compound interest. If he
Lupays 77000 at the end
the end of the
of the
first year and I9000 at the
end of the second year how much will he pay at end of
the third year to clear the entire loan amount​

Answer 1

Answer:

Amount to be paid at the end of two years will be =Amountafter2years=8000(1+  

100

10

​  

)  

2

 =8000(1.1)  

2

 =8000(1.21) =9680 Amount already paid in 2 years is(3200+1500)=4700 Therefore amount of loan outstanding at the beginning of third year will be(9680−4700)=4980

Step-by-step explanation: