SOLUTION: Please help me solve this question Mr. John Asiedu borrowed GH¢10,800 from his bank at interest rate of 18% and agreed to pay equal instalments over five years. You are require

Question 1172942: Please help me solve this question
Mr. John Asiedu borrowed GH¢10,800 from his bank at interest rate of 18% and agreed to pay equal instalments over five years.
You are required to
i.Determine the size of the payment.
ii.Set up amortisation schedule for the loan.
Answer by ikleyn(52878) (Show Source): You can put this solution on YOUR website!
.
Please help me solve this question
Mr. John Asiedu borrowed GH¢10,800 from his bank at interest rate of 18% and agreed to pay equal instalments over five years.
You are required to
i.Determine the size of the payment.
ii.Set up amortisation schedule for the loan.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

As the problem is presented in the post, it is posed incorrectly.

To be correct and complete, the problem must say, what these installments are:
daily, weekly, monthly, quarterly, semi-annually, annually ?

Do you compose Math problems on your own ?

It requires some level of maturity in Math, which you do not have.

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