Question
1. A man borrows R10 000 with interest at 3.5% p.a. the debt is to be retired by the payment of R2 500 at the
1. A man borrows R10 000 with interest at 3.5% p.a. the debt is to be retired by the payment of R2 500 at the end of 4 years followed by 6 equal annual payments. What part of the last payment is used to pay interest?
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Public Finance An International Perspective
Authors: Joshua E. Greene
1st Edition
9814365041, 978-9814365048
