A loan of $1000 is to be paid in 5 equal annual payments interest being at 6 per cent per annum compound interest and first payment being made after a year, Analyze the payment into those on account of interest and on account of amortization of the principal.
A loan of $1000 is to be paid in 5 equal annual payments interest being at 6 per cent per annum compound interest and first payment being made after a year, Analyze the payment into those on account of interest and on account of amortization of the principal.
