How much must be the last repayment be made if the loan is terminated after 5 year for which a loan of K10,000 is taken at 12% p.a. flat, where the loan is repaid by equal quarterly repayments for 9 years?

Question

07-09-2022
Mathematics

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How much must be the last repayment be made if the loan is terminated after 5 year for which a loan of K10,000 is taken at 12% p.a. flat, where the loan is repaid by equal quarterly repayments for 9 years?

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