I borrow $10 000.00 at 10% p.a. compound (or reducible rate of) interest, but paid off $3000.00

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I borrow $10 000.00 at 10% p.a. compound (or reducible rate of) interest, but paid off $3000.00 at the end of the first year.I was charged $1000.00 interest in the first year.How much interest will I be charged in the second year?

Posted Date: Apr 24, 2024 02:05 AM

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I borrow $10 000.00 at 10% p.a. compound (or reducible rate of) interest, but paid off $3000.00

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To calculate the interest charged in the second year we need to deter... View the full answer

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