A man borrows Rs 8160 from a finance company and has to return it in two equal annual instalments. If the rate of interest charged is 12.5% per annum, compounded annually, find the instalment.
A man borrows Rs 8160 from a finance company and has to return it in two equal annual instalments. If the rate of interest charged is 12.5% per annum, compounded annually, find the instalment.
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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