Posted by **Anonymous** on Monday, February 4, 2013 at 6:03am.

A man borrows Rs 18000 at 5% per annum compound interest .If he repays Rs 6000 at the end of the first year and Rs 8000

at the end of the second year; how much should he pay at the end of the 3rd year in order to clear the account?

- maths -
**Reiny**, Monday, February 4, 2013 at 8:47am
x + 8000(1.05) + 6000(1.05)^2 = 1800(1.05)^3

...

....

x =5822.25

( For these I make a "time graph"

on a line, mark 0 (now), year 1, year 2 , and year 3

Place 18000 above the "now"

place 6000 at 1, 8000 at 2, and x at 3

"move" all monies to position 3 )

## Answer This Question

## Related Questions

- Mathematics - (a)A loan of 12 000 was borrowed from a bank at 14% per annum ...
- Mathematics - A loan of 12,000 was borrowed from a bank at 14% per annum. ...
- Finance - BH Holding Inc. is considering undertaking a capital project, costing...
- math - If a man saves $6000 each year for 7 years and reinvests his interest at ...
- math - A man borrows $50,000 towards the cost of a house. Compound interest is ...
- maths - If an amount of Rs 10,000/- is invested at a simple interest of 12% per ...
- Finance - An initial outlay of $10000 resulting in a free cash flow of $2000 at ...
- Amoritizing Loans - "A woman borrows $6000 at 9% compounded monthly, which is to...
- additional mathematics - Ang, Bakar and Chandran are friends and they have just ...
- maths-- compound interest - find the compund interest on $2500 for one year at 4...

More Related Questions