S.C Problem No 9:
Solution:
Year
|
Installments
|
Principal
|
Interest
|
Balance
|
0
|
-
|
-
|
-
|
50000
|
1
|
7451.47
|
3451.47
|
4000
|
46548.53
|
2
|
7451.47
|
3727.588
|
3723.882
|
42820.94
|
3
|
7451.47
|
4025.795
|
3425.675
|
38795.15
|
4
|
7451.47
|
4347.858
|
3103.612
|
34447.29
|
5
|
7451.47
|
4695.687
|
2755.783
|
29751.6
|
6
|
7451.47
|
5071.342
|
2380.128
|
24680.26
|
7
|
7451.47
|
5477.049
|
1974.421
|
19203.21
|
8
|
7451.47
|
5915.213
|
1536.257
|
13288
|
9
|
7451.47
|
6388.43
|
1063.04
|
6899.568
|
10
|
7451.47
|
6899.505
|
551.9654
|
0
|
B:
Total interest paid = 24514.76
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