Arif has to pay RM 200 at the beginning of each month for 36 months to settle a loan at 12% compounded monthly. No use excel a) What is the original amount of the loan? (RM6021.50) b) What is the total interest that he has to pay? (RM1178.50)
Arif has to pay RM 200 at the beginning of each month for 36 months to settle a loan at 12% compounded monthly. No use excel a) What is the original amount of the loan? (RM6021.50) b) What is the total interest that he has to pay? (RM1178.50)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 19PROB
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3. Arif has to pay RM 200 at the beginning of each month for 36 months to settle a loan
at 12% compounded monthly. No use excel
a) What is the original amount of the loan? (RM6021.50)
b) What is the total interest that he has to pay? (RM1178.50)
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