Can you please answer this using an easy explanation :)
Posted: Wed Jul 06, 2022 6:40 pm
Can you please answer this using an easy explanation:)
Consider a 10-year loan with an nominal interest rate of 8% compounded quar- terly. If the loan is repaid with quarterly instalments made in arrears and the in- terest amount in the 17th repayment is $201.7, calculate the original loan amount.
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