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Mutale has just borrowed an amount of k 5000 to pay his school fees . The loan is to be repaid in annual instalment at
Mutale has just borrowed an amount of k 5000 to pay his school fees . The loan is to be repaid in annual instalment at the end of each of the next 3 years and interest rate is 15%. mutale is interested to know the repayment implications on this loan in terms of the total amount that will be paid on the loan ND the break down between the principal amount and interest amount payment over 3 years . Draw out a table that will help mutale understand the loan implications.
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