Question

Q. 2 A loan of £100,000 is to be repaid in annual payments over 10 years. Assuming a fixed interest rate of 10% per annum, calculate


a) the amount of each annual repayment,

b) the total interest paid,

c) the amount of interest paid in the first and second repayment.​

Answer 1

Answer:

a)£100,000  b)£100,000   c)£100,000

Step-by-step explanation:

a)£100,000

b)£100,000x10x 10/100

  =£1000000x10/100

  =£100000

c)£100,000x2=)£200,000

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