Malia Losalu
New member
- Joined
- May 3, 2020
- Messages
- 4
A loan of $1400 is due in 1 year at a simple interest rate of 12%. Partial payments of $400 in 2 months, $25 in 6 months, and $700 in 8 months are made
- Construct a timeline clearly showing the timing of the debt and all repayments. (1 marks)
- Determine the balance due at the end of the 12 months using the merchant rule (6 marks)
- Working and Answer Space for Part B