20. A trader took a loan of ¢1,800.00 at an
interest of 12.5 percent per annum. It was
agreed that the loan and the interest must
be paid in
one year equal monthly
instalments.
a) Calculate
i) the interest on the loan.
ii) the amount to be paid at the end
of the year.
iii) the monthly instalment.
b) Another trader took a loan at the same
rate interest and conditions. If she had
to pay ¢200.00 monthly instalment,
find to the nearest cedi, how much she
took.