Asked by Dara
A woman borrows £180,000 from a bank at 10% per annum compound interest. She repays 50,000 at the end of each year. How much does she still owe at the end of 4 years?
Answers
Answered by
oobleck
at end of year 1: 180000 * 1.10 - 50000 = 148,000
repeat for the next 3 years.
Or, I'm sure you have a handy formula.
repeat for the next 3 years.
Or, I'm sure you have a handy formula.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.