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 2 years ago
jhon has a debt of $35000 the payment day is in 16 months,he pretend to pay $12000 at the end of 158 days,and $13000 189 days after the first payment,how much he has to pay in payment day to discharge from debt?the interest rate is 50% in a year.(simple interest)
 2 years ago
jhon has a debt of $35000 the payment day is in 16 months,he pretend to pay $12000 at the end of 158 days,and $13000 189 days after the first payment,how much he has to pay in payment day to discharge from debt?the interest rate is 50% in a year.(simple interest)

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RaphaelFilgueiras
 2 years ago
Best ResponseYou've already chosen the best response.1the answer in book is $2231.95

experimentX
 2 years ago
Best ResponseYou've already chosen the best response.150% in year .. 50/360% per day ... perhaps this is step problem.

RaphaelFilgueiras
 2 years ago
Best ResponseYou've already chosen the best response.1my ans is 28715.69

experimentX
 2 years ago
Best ResponseYou've already chosen the best response.1a = 35k + 35k*0.5/360 * 158  12k b = a + a*0.5/360 * 189  13k c = b + a*0.5/360 * (16*30  159  158) ans

RaphaelFilgueiras
 2 years ago
Best ResponseYou've already chosen the best response.1i think the answ is wrong too.

RaphaelFilgueiras
 2 years ago
Best ResponseYou've already chosen the best response.1for me that $2231.95 is impossible

experimentX
 2 years ago
Best ResponseYou've already chosen the best response.1http://www.wolframalpha.com/input/?i=25734%2B25734*0.5%2F360*%2816*30189158%29

RaphaelFilgueiras
 2 years ago
Best ResponseYou've already chosen the best response.1but in second line you did not use simple interest

experimentX
 2 years ago
Best ResponseYou've already chosen the best response.1oh ... on which line?

RaphaelFilgueiras
 2 years ago
Best ResponseYou've already chosen the best response.1when you calculate b

experimentX
 2 years ago
Best ResponseYou've already chosen the best response.1oh ... that's because you already paid off 12k ... if you have to pay again interest of 12k then it would be unfair .... is it like fixed deposit loan or what??

RaphaelFilgueiras
 2 years ago
Best ResponseYou've already chosen the best response.1dw:1342896895036:dw

RaphaelFilgueiras
 2 years ago
Best ResponseYou've already chosen the best response.1@experimentX the answer in book is rigth
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