Posted by **Math** on Tuesday, September 25, 2012 at 10:11am.

A bank loan of $500 is arranged to be repaid in two years by equal monthly instalments. Interest, calculated monthly, is charged at 11% p.a on the remaining debt. Calculate the monthly repayment if the first repayment is to be made one month after the loan is granted.

## Answer This Question

## Related Questions

- FINANCE - Now that they have accumulated a deposit of 55,000 Jack and Jill take ...
- math - gail borrowed $3600 from a bank to buy a washing machine she pays back ...
- Geometric Progression - A mortagge is taken out for $10,000 and is repaid by ...
- Homework Check - 1.)In a(n) _________ , simple interest is added on to the ...
- college math - A $8700 personal loan at 5.5% compounded monthly is to be repaid ...
- college math - A $8700 personal loan at 5.5% compounded monthly is to be repaid ...
- Finance - Jessie purchased a notebook for $10,500 using a credit card. She ...
- Financing - Jessie purchased a notebook for $10,500 using a credit card. She ...
- mathematics - A mortgage is taken out of 100000 dollars and is repaid by annual ...
- accounting - If you decide to buy a car for $17,500 and get $2,500 on a trade-in...

More Related Questions