Question

Akosua was granted a loan of GHȼ 9600. The interest rate was 24% per annum. Calculate the: (i) interest at the end of the year. (ii) total amount she had to pay at the end of the year. (iii) amount she still owes, If Akosua was able to pay only GHȼ 6000 at the end of the year.

Answer 1

Answer:

1. rs 1293.27 interest

2. 10893.27 total amount

3.6393.27 balence in end of year