A loan of $6000 over 5 years at 15% p.a. interest, charged monthly, is paid back in 5 yearly instalments. How much is each instalment, and how much money is paid altogether?
$1835.68, $9178.40
http://i30.tinypic.com/2ps4rgh.jpg
http://i28.tinypic.com/51uoj.jpg
Where have I made a mistake?
T_T
$1835.68, $9178.40
http://i30.tinypic.com/2ps4rgh.jpg
http://i28.tinypic.com/51uoj.jpg
Where have I made a mistake?
T_T