Mathematics, 09.05.2021 18:20 maddo36

6. Edna borrowed Nu 30,000 at 16% p. a. compounded annually. She
agreed to the following payment plan:
- Nu 10,000 at the end of the first year
- Nu 15,000 at the end of the second
year
- A final payment of the remaining
amount at the end of the third year
a) Determine the amount of the final payment.
b) Find the amount of interest Edna
paid altogether.

Answers: 1

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6. Edna borrowed Nu 30,000 at 16% p. a. compounded annually. She
agreed to the following paym...