Bank loan repayment

On 1 March, Mr. Závora obtained a loan from the bank for CZK 70,000 for four months. The interest rate is 9.5%. How much will he repay to the bank?

Final Answer:

x =  72216.6667 Kc

Step-by-step explanation:

t=4/12=310.3333 u=9.5%=1009.5=0.095 a=70000 Kc  q=1+u t=1+0.095 0.3333=6006191.0317  x=q a=1.0317 70000=72216.6667 Kc



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