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(d) A person borrows a loan amount RM25,000 which bank charges an annual interest rate of 5% for 10 years. The person pl
Posted: Thu Apr 28, 2022 11:31 am
by answerhappygod
- D A Person Borrows A Loan Amount Rm25 000 Which Bank Charges An Annual Interest Rate Of 5 For 10 Years The Person Pl 1 (32.26 KiB) Viewed 28 times
(d) A person borrows a loan amount RM25,000 which bank charges an annual interest rate of 5% for 10 years. The person plans to use a sinking fund to pay off the loan at the end of 10 years. How much should he deposit semi-annually into the fund which pays yearly interest 5% compounded semi-annually to achieve the goal? (5 marks)