On 1st of June, a school teacher signed a 2-month loan for RM1,000 at 12% compounded monthly
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Question:
On 1st of June, a school teacher signed a 2-month loan for RM1,000 at 12% compounded monthly to pay for a vacation. On 1st of July, he paid RM550 on the loan, and 1st of August, he paid off the loan. What is the total interest he paid on the loan? Ans: RM 14.60
Expert Answer:
Related Book For 
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
Posted Date:
