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3. An amount of 100,000 was borrowed and was to be repaid in 10 instalments at the end of every quarter thereafter with
Posted: Mon Apr 25, 2022 8:10 am
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- 3 An Amount Of 100 000 Was Borrowed And Was To Be Repaid In 10 Instalments At The End Of Every Quarter Thereafter With 1 (50.93 KiB) Viewed 36 times
3. An amount of 100,000 was borrowed and was to be repaid in 10 instalments at the end of every quarter thereafter with each payment more than $1,000 more than the preceding, if interest is 12% compounded semi-annually, (a) determine the amount of the first payment and (b) the total amount paid by the borrower. DRAW THE CASH FLOW DIAGRAM