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You are to repay a loan with repayments of $50.00 every fortnight over a period of 2.5 years, with the first repayment being one fortnight
You are to repay a loan with repayments of $50.00 every fortnight over a period of 2.5 years, with the first repayment being one fortnight after you took out the loan. If interest is charged at j26 = 8.0730% p.a. then the amount borrowed is:
- 2840.87
2. 3595.03
3. 3449.40
4. 2938.91
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