Q6#: A loan of Rs. 94 is to be paid back in monthly instalments the first one starting after one month from the date of the loan. If the interest is charged at the rate of 24% per annum on the unpaid principal, what will be the amount of the monthly instalment?

Q: What lump sum do parents need to deposit in an account earning 14%, compound monthly, so that it…

A: Compound interest: Formula : A=P 1+rnnt, where A is the amount P is the principal or the invested…

Q: Bank ZLX is offering personal loans to of up to $50,000.  The loan would have to be paid off making…

A:

Q: The monthly payments on a 10-year loan of $20,000 at 6.6% interest are $228.11. (a) What is the…

A: It is given that, the monthly payments on a 10-year loan of $20,000 at 6.6% interest are $228.11.…

Q: Calculate the value gained from depositing 12 regular installments into a bank, as the amount of…

A: S = P × (([1 + i]n – 1) / i) × (1 + i). Here, S is the final amount of maturity. P is the amount…

Q: The monthly payments on a 10-year loan of $25,000 at 6.1% interest are $278.81. (a) What is the…

A:

Q: Calculate the value gained from depositing 12 regular installments into a bank, as the  amount of…

A:

Q: If you have a loan of 140,000 at 9% per annum interest over 20 years and you have a monthly…

A: We have to find the how much is saved by increasing the payments.