mohan needs to repay a loan of $ 38000 in 3 years . how much did he borrow today if the lender charge an annual interest rate 6 percent compounded monthly??
1. Simple interest
2.Compound interest future value
3. compound interest present value
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A sum of Rs 10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the simple interest on this sum and the amount
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