elementary quantitative methos

with reference to previous question,what is the outstanding principle at the beginning of the second year,rounded to the nearest rand

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1. beginning of 2nd year ---> end of first year.
I will assume the 12th payment has been made

outstanding balance
= 230000(1.01625)^12 - 3817.23( 1.01625^12 - 1)/.01625
= ....

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posted by Reiny

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