grubbymunster grubbymunster

08-09-2020
Mathematics

contestada

A $10,000 loan is to be repaid with 7 equal half-yearly instalments, the first repayment being in
6 months from today. Interest is at 7%p.a. compounding half-yearly. Calculate the principal
repaid in the fourth instalment.
(use excel)

Respuesta :

tramserran tramserran

08-09-2020

Answer: $1,415.47

Step-by-step explanation:

see spreadsheet below

Ver imagen tramserran

Answer Link

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