Ask a New Question

Loan #1

Year Amount owed
1 $3796
2 $3942
3 $4088

Loan # 2
Year Amount owed
1 $977.53

2 $1036.18
3 1098.35

For loan #1 is simple interest. Loan #2 is compound interest
How much was each loan originally
Determine the future value of each loan after 10 years

Ask a New Question or answer this question.

Similar Questions

(a)A loan of 12 000 was borrowed from a bank at 14% per annumCalculate (i) The interest on the loan at the end of the first year
1. 9 answers
Calculate the final loan amount of a $22,500 auto loan with a 3.2% simple interest rate over a 5-year term.$26,100 $58,500
1. 1 answer
calculate the final loan amount of a $22,500 auto loan with a 3.2% simple interest rate over a 5-year term.a $72,000 b $58,500 c
1. 1 answer
Calculate the final loan amount of a 22500 auto loan with a 3.2% simple interest rate over a 5-year term.
1. 7 answers

more similar questions