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Unpaid part of the capital

A person has borrowed the amount of £10000 under the following condition of repayment: an amount of 500 will be repaid at the end of each month that will be completely used in repaying the capital. Interest will be levied only on the unpaid part of the capital at an annual rate of 12%. what is the number or instalments?

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Unpaid part of the capital

Reference No:- TGS0552608

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Unpaid part of the capital

Reference No:- TGS0552608

Recent Questions Asked Finance Basics

Q : Assessing the credit rating

Q : What is the machine-s npv

Q : Contingencies-operating income

Q : Writing a rhetorical analysis essay

Q : Unpaid part of the capital

Q : After-tax return on investments

Q : Technology in education

Q : Find the effective cost of the new machine

Q : Financial management-overview and environment

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