Mathematics, 26.05.2020 17:57 achsahjosey

Najib borrowed a sum of money at 10% per
annum compound interest. If he repaid the loan
after 2 years, he would have to repay $4356.
(a) Find the sum of money that he had borrowed.
(b) If he repaid the loan by two equal annual
instalments at the end of the first year and
the second year, how much would each
instalment be?

Answers: 3

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Najib borrowed a sum of money at 10% per
annum compound interest. If he repaid the loan
...