Welcome to Westonci.ca, where you can find answers to all your questions from a community of experienced professionals. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.
Sagot :
Answer:
$1680
Step-by-step explanation:
Principal loan amount x Interest rate x Time
= 12000 × 14% × 1
=12000 × 14/100 × 1
=168000/100 × 1
=1680
Answer:
i hope this helps!
credit: sayaksjunkyard2018
source: https://brainly.in/question/9238636
Step-by-step explanation:
P = $ 12000
r = 14%
t = 1 (for first year)
I = (P X r X t)/100
∴ I = (12000 X 14 X 1)/100
= 120 X 14
= $ 1680 <---------- (Interest on loan at the end of first year)
∴ Total amount owing at the end of first year = (P + I)
= (12000 + 1680)
= $ 13680
Repayment = $ 7800
Amount still outstanding (at the start of second year) = 13680 - 7800
= $ 5880
Interest on the outstanding amount at the end of second year,
P (new) = $ 5880
r (same) = 14%
t = 1 (for the current second year)
∴ I = (P X r X t)/100
= (5880 X 14 X 1)/100
= 82320 / 100
= $ 823.2 <-------------------------- (Interest on outstanding amount at the end of second year)
Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.