Question

Mr Chua borrows a sum of money from the bank
which charges a compound interest of 4.2% per
annum, compounded quarterly. Given that Mr Chua
had to pay $96.60 in interest payments at the end of
the first year, find the original sum of money
borrowed, giving your answer correct to the
nearest cent.​

Answer 1

CI = 4.2%

Now according to Einstein rule of relativity. This is equal to this so it is congruent to this which will make us go round and 412 will be so. Original sum of money = ¥ 528882. Now u convert this into dollar and u will get your answer.

Thak u