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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)
 one year ago
 one year 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)
 one year ago
 one year ago

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RaphaelFilgueirasBest ResponseYou've already chosen the best response.1
the answer in book is $2231.95
 one year ago

experimentXBest ResponseYou've already chosen the best response.1
50% in year .. 50/360% per day ... perhaps this is step problem.
 one year ago

RaphaelFilgueirasBest ResponseYou've already chosen the best response.1
my ans is 28715.69
 one year ago

experimentXBest ResponseYou've already chosen the best response.1
a = 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
 one year ago

RaphaelFilgueirasBest ResponseYou've already chosen the best response.1
i think the answ is wrong too.
 one year ago

RaphaelFilgueirasBest ResponseYou've already chosen the best response.1
for me that $2231.95 is impossible
 one year ago

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

RaphaelFilgueirasBest ResponseYou've already chosen the best response.1
but in second line you did not use simple interest
 one year ago

experimentXBest ResponseYou've already chosen the best response.1
oh ... on which line?
 one year ago

RaphaelFilgueirasBest ResponseYou've already chosen the best response.1
when you calculate b
 one year ago

experimentXBest ResponseYou've already chosen the best response.1
oh ... 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??
 one year ago

RaphaelFilgueirasBest ResponseYou've already chosen the best response.1
dw:1342896895036:dw
 one year ago

RaphaelFilgueirasBest ResponseYou've already chosen the best response.1
@experimentX the answer in book is rigth
 one year ago
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