Equation of value

yoshita

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Feb 9, 2021
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Abu made a loan on 1 January 2016. he made a payment of rm2000 on 30 april 2016 and RM2000 on 31 august 2016. the last payment was made on 15 december 2016. Calculate the final payment amount if the loan interest rate is 7% per year with focal date.

i 15 December 2016
ii 1 January 2016
 
Last edited:

yoshita

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Feb 9, 2021
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The answer for
i. RM1208.05
ii. RM1211.92

But idk how to do it
 

Subhotosh Khan

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Abu made a loan on 1 January 2016. he made a payment of rm2000 on 30 april 2016 and RM2000 on 31 august 2016. the last payment was made on 15 december 2016. Calculate the final payment amount if the loan interest rate is 7% per year with focal date.

i 15 December 2016
ii 1 January 2016
Make chart:

  1. How much was the original loan (including interest) on 1/1.

  2. How much was the loan (including interest) on 4/30

  3. How much is the loan on 4/30 after payment

  4. How much was the loan (including interest) on 8/31.

  5. How much is the loan on 8/31 after payment
and continue.....
 

yoshita

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Feb 9, 2021
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im sorry, but how to claculate the original loan on 1/1?
 

Subhotosh Khan

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im sorry, but how to calculate the original loan on 1/1?
I think you did not "translate" the problem correctly to English language. Find - if somebody else can translate it differently and provide correct information for solution.
 
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