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Henrietta Hopper borrowed from the Bank of Dad- the loan was payable in equal blended monthly instalments of $161.75 for 4 years with Interest on
Henrietta Hopper borrowed from the Bank of Dad- the loan was payable in equal blended monthly instalments of $161.75 for 4 years with Interest on the loan@ 9% pa compounded monthlv. a. How much did she borrow? b. If no payments are made for the 1st year & if Dads Bank demanded payment in full how much would she need? c. If b. occurs what is the total cost of the loan
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