iterest free loan of Rs. 12000 from Y. The loan is to be repaid in ten installments. Mr X paid Rs. 800 as first instalment and then increases each instalment by equal amount over the preceding instalment. What will be the last instalment?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 1E: An annuity is a sum of money that is paid in regular equal payments. The __________ of an annuity is...
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Example 18. Mr X borrowed interest free loan of Rs. 12000 from Y. The loan
is to be repaid in ten installments. Mr X paid Rs. 800 as first instalment and then
increases each instalment by equal amount over the preceding instalment. What
will be the last instalment?
Transcribed Image Text:Example 18. Mr X borrowed interest free loan of Rs. 12000 from Y. The loan is to be repaid in ten installments. Mr X paid Rs. 800 as first instalment and then increases each instalment by equal amount over the preceding instalment. What will be the last instalment?
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