Getteral09
Member
- Joined
- Apr 20, 2006
- Messages
- 60
- Gender
- Undisclosed
- HSC
- N/A
Hey can anyone help me out on this loan repayment question?
A store offers credit on a $3000 sound system with no repaymnets for 6 months. If interest is 14.5% p.a. and the loan is paid back over 2 years, clauclate the amount
a) owed on the credit after 6 months, just before the first repayment (do i use the compound interest for this?)
b) of each monthly instalment (i can't seem to work this out) ><
well thanks heaps!!^^
A store offers credit on a $3000 sound system with no repaymnets for 6 months. If interest is 14.5% p.a. and the loan is paid back over 2 years, clauclate the amount
a) owed on the credit after 6 months, just before the first repayment (do i use the compound interest for this?)
b) of each monthly instalment (i can't seem to work this out) ><
well thanks heaps!!^^
make sure to do it for 6months not p.a.