Question: b. Define simple and compound interest. A man borrows Tk. 20,000 at 4% compound interest and agrees to pay both the principal and the interest

b. Define simple and compound interest. A man borrows Tk. 20,000 at 4% compound interest and agrees to pay both the principal and the interest in 10 equal instalments at the end of each year. Find the amount of each instalment. Question No. 4 a. The sum of three numbers is 6. If we multiply the third number by 2 and add the first number to the result, we get 7. By adding second and third numbers to three times the first number, we get 12. Using matrices find the numbers. b. What do you know about sinking fund? Assume that you buy a TV set for $900 and agree to pay for it in 18 equal monthly payments at 2.5% interest per month on the unpaid balance. (i) How much are your payments? (ii) How much interest will you pay

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