Answered: A loan with j12 9% should be repaid…

A loan with j12 9% should be repaid with monthly instalments of Rp3 million. After one year the outstanding amount is Rp144,520,120.56. Compute the original loan.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...

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A loan with j12 9% should be repaid with monthly instalments of Rp3 million. After one year,
the outstanding amount is Rp144,520,120.56. Compute the original loan.

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