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You are to repay a loan of $4400.00 with 23 weekly repayments of $190.00, with the first repayment being one week after you took out
You are to repay a loan of $4400.00 with 23 weekly repayments of $190.00, with the first repayment being one week after you took out the loan. Interest is charged at j52 = 7.8780% p.a. One week after the last payment of $190.00 you make a partial payment to finish paying off the loan. The size of the partial payment is:
1) $112.43
2) $108.45
3) $112.47
4) $112.30
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