Question

How will you represent a loan taken from a bank?​

Answer 1

Answer:

find loan balance formula below,

B=A(1+r)n−pr[(1+r)n−1]

Where,

B = Balance Amount

A = Loan Amount

P = Payment Amount

r = Rate of Interest (compounded)

n = Number of time periods

Answer 2

Answer:

Step-by-step explanation:

Given Original loan amount A = 100000

B = Balance Amount

P = 900

r =4/1200 = 0.0033

n = 01 years = 12 months

Using the loan formula:

3011