Mathematics
(a)A loan of 12 000 was borrowed from a bank at 14% per annum
Calculate
(i) The interest on the loan at the end of the first year
(ii) The total amount owing at the end of the first year
A repayment of $ 7 800 was made at the start of the second year.
Calculate
(iii) the amount still outstanding at the start of the second year
(iv) the interest on the outstanding amount at the end of the second year
asked by
INDIANA

I'll do the first two.
(i)
12,000 * 0.14 = 1,680
(ii)
12,000 + 1,680 = 13,680
I'll be glad to check your answers for the other two.
posted by Ms. Sue

(iii) 13,680  7,800 = 5,880 still outstanding in the second year.
I am not sure how to work out the last one.posted by INDIANA

(iv)
5,880 * 0,14 =posted by Ms. Sue

308
posted by rue
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