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24-09-2022
Mathematics

Answered

Andy got a loan of $120 000 from a bank at a rate of 9% per annum.

At the start of the second year Andy made a repayment of $25000.
Calculate:
(c) the amount of money outstanding at the start of the second year.
(d) the interest that would accumulate on this outstanding amount at the end of the second year.

Answer :

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