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Posted on Jul 29, 2024

If you borrow $ 3 0 , 0 0 0 now from a loan company XYZ Ltd at an interest of 1 0 % to

If you borrow $ $30, 000$ now from a loan company XYZ Ltd at an interest of $10 %$ to help you complete your degree in four years. The company only wants you to pay it back at the end of four years in one lump sum. What is the amount you have to pay?

a $.$ Solve the problem by hand.

b $.$ Solve the problem using Excel.

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