A bank offers loans at an interest eate of 18% p.a. compounded monthly. A man takes a loan of $20 000 and repays the bank in monthly instllments of $4000. How much will he owe the bank after his first installment?
i dun quite understand the question...
how much will he owe?
2008-06-14 1:01 am
回答 (1)
2008-06-14 4:23 am
✔ 最佳答案
The interest per month is 18% / 12 = 1.5 %At the time of first installament (ie 1 month), the loan becomes
$20,000 x ( 1 + 1.5%) = $20,300
Hence, after first installment (ie repaying $4,000), he will owe bank
$20,300 - $4,000 = $16,300
收錄日期: 2021-04-13 15:41:19
原文連結 [永久失效]:
https://hk.answers.yahoo.com/question/index?qid=20080613000051KK01551