Installment 38011

We borrowed CZK 150,000 at a monthly interest rate of 2%. At the end of each month, interest is added, and we immediately pay an installment of CZK 30,000. How much will we owe in 5 months?

Correct answer:

m5 =  9490.9157 Kc

Step-by-step explanation:

a=150000 Kc p=100%+2%=1+1002=1.02 s=30000 Kc m1=a ps=150000 1.0230000=123000 kc m2=m1 ps=123000 1.0230000=95460 kc m3=m2 ps=95460 1.0230000=5336846=67369.2 kc m4=m3 ps=67369.2 1.0230000=38716.584 kc m5=m4 ps=38716.584 1.0230000 kc=9490.9157 Kc



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