Math

Use compound interest formula you will get the solution

sai t

CA Foundation

★ 2K+

11-Nov-22 08:42

It is said that first installment is due after 5 years.. So first of all we will have to find the compounded value of the loan amount after 4* years. Then we need to find the amount of annuity paid annually for another five years.. Since the problem is about loan we shall use the present value formula. * 4 years is taken to find the value at the end of 4th year so that annuity becomes due at the end of five years...

Rose

CA Inter

★ 13K+

11-Nov-22 09:12