Respuesta :
Answer:
= 30,550 rupee owed
Step-by-step explanation:
yr1 = 50000 x 0.10^1 = 5000
5000 - 10000 = 5000 credit from debt.
yr 2 = 50000 x 1.10^2 = 500 debit from debt = 5000-15000= 10,000 credit from debt
yr 3 = 50000 x 1.10^3 = 50 debit from debt
5000 + 500 = 15000 where 50,000 owed initially and yr1 and yr 2 paid in full interest of 5500 and we deduct this from his payment = 25000-5500 =
19500 paid of initial and nothing owed on interest.
50000-19500= 30,500 rupees owed + 50 rupee interest.
= 30,550 rupee owed
The amount he should pay at the end of the three years to settle the loan is; 41,550 Rupees
Compound Interest
We are given;
Investment = 50000 rupees
Annual Interest Rate = 10% = 0.1
Since the interest is compounded annually, then number of times of compounding = 3
Thus;
Amount to pay after 3 years is;
A = 50000(1 + 0.1)³
A = 50000 × 1.1³
A = 66500 Rupees
Now, we are told that he has already paid 10000 rupees after one year and 15000 rupees after two years. Thus, amount he now owes to settle the loan = 66500 - (10000 + 15000) = 41,550 Rupees
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