SOLUTION: Benjamin borrows $135 000 to be paid over a period of 30 years at 5% per annum reducible interest. Each year there are k regular repayments of $M. Interest is calculated and charge

SOLUTION: Benjamin borrows $135 000 to be paid over a period of 30 years at 5% per annum reducible interest. Each year there are k regular repayments of $M. Interest is calculated and charge

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Question 1208050: Benjamin borrows $135 000 to be paid over a period of 30 years at 5% per annum reducible interest. Each year there are k regular repayments of $M. Interest is calculated and charged just before each repayment. Write an expression for the amount owing after two repayments.
Answer by ikleyn(52903) (Show Source): You can put this solution on YOUR website!
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Soup of words, whose meaning is unclear.

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