Question

What annual payment will discharge a debt of 848 in 8 years at 8 per annum?

Answer 1

Principal = 848

Rate = 8 %

Time = 8 years

$Simple interest = \frac{P*R*T}{100}$

$S.I = \frac{848*8*8}{100}$

         Simple Interest = 542.72

Annual Payment of 542.72 will discharge.

Answer 2

Answer:

Explanation:

Here it the method to solve the annual payment