Question
(Financial mathematics) Rina provides a loan to Rangga with an effective interest rate of 8% which must be returned in 10 installments of 10,000,000 every
(Financial mathematics) Rina provides a loan to Rangga with an effective interest rate of 8% which must be returned in 10 installments of 10,000,000 every year and then continued in 5 installments of 20,000,000 annually. After Rangga made the 5th payment, Rina just realized that he made a calculation error so that the fifteen installments discussed above the value should be 10% higher. After a little fight and negotiating, finally Rangga is willing to pay installments of K starting from 6th year to 10th year, while the installments in the 11th to 15th year are fixed according to the initial agreement. Calculate the amount of K so that the installment calculation error what Rina did can be covered up. please help, asap, I will definitely upvote, thank you
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