Problema loan is being repaid by 2n level payments starting, Ask an Expert

Finance

Problem:

A loan is being repaid by 2n level payments, starting one year after the loan. Just after the nth payment the borrower finds that she still owe (3/4) of the original amount.

Required:

Question 1: What proportion of the next payment is interest? Describe in detail and provide step by step solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147124

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