Question: please tell me why i am wrong. from what step ?? the correct answer according to key answer is 1344.89 year period to completely repay

 please tell me why i am wrong. from what step ??

the correct answer according to key answer is 1344.89 year period to

please tell me why i am wrong. from what step ?? the correct answer according to key answer is 1344.89

year period to completely repay (27. A borrower is repaying a loan with payments of $3000 at the end of every year over an unknown period of time. If the amount of interest in the third installment is $2000, find the amount of principal in the sixth installment. Assume that interest is 10% convertible quarterly. 10% convertible quarterly. A does not pay interest 11 500 3.000 3.000 2) = 10/0 1 (1 + (1+8%) (148%)/4 -1 = 13 816 31317 D 7 unenown 3.000 0 2 T3 = K (1-(1+1)-cn-++1) - 3.000 (1 - (1+1)-cn-3+1) 2 000 = 3000 (1- (1+1) Ch-2) n = 13, 12288 923 n = 13 tahan 16 = 3.000(1-(4+)-609-670) = 3000 (1-(1+N = 1 630 608351 (14A) =/ Halja (HA) = ( 14 100%) 1 L-000 1,103811891 8

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