SOLUTION: a man obtained a loan of 11,000 from the bank at 10% interest per annum to buy motorcycle. How much does he owe at the end of 3 years if he repays 950 at the end of each year?
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Question 1151352: a man obtained a loan of 11,000 from the bank at 10% interest per annum to buy motorcycle. How much does he owe at the end of 3 years if he repays 950 at the end of each year?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
He will owe
after 3 yrs
He will pay
so he will owe:
$11,450
Get a 2nd opinion if needed
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