Using those examples, can you please solve; At one time, the Bhutan National Bank charged 15% interest per year for a personal loan. Suppose you had borrowed the money and paid interest at the end of each year.
A. If you had borrowed Nu 1000, how much would you have paid back in interest at the end of one year?
B. How much interest would you paid at the end of two years?
C. Make a chart to show how much interest you would have paid after 3 years, 4 years, and so on up to 10 years ​

Step-by-step explanation:

rate of interest per year = 15%

A.principal = Nu 1000

time =1 year

rate of interest = 15%

interest=?

Interest =PTR/100

=1000*1*15/100

=15000/100

=Nu 150

B.principal = Nu 10000

time = 2 years

rate of interest =2*15%

=30%

Interest=?

Interest = PTR/100

=1000*2*30/100

=60000/100

=Nu 600

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

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step-by-step explanation: