Borrowing

I borrow 25,000 to 6.9% p.a. and pay 500 per month. How much will I pay and for how long?

Correct answer:

x =  35062.5 Kc
n =  70

Step-by-step explanation:

a=25000 p=6.9/100=100069=0.069 r=a p=25000 0.069=1725 a+r   n/12 = 500 n 25000+25000 0.069   n/12 = 500 n 4275n=300000 n=70 x=a+r n/12=25000+1725 70/12=35062.5 Kc
n=70



Did you find an error or inaccuracy? Feel free to write us. Thank you!







Tips for related online calculators
Our percentage calculator will help you quickly calculate various typical tasks with percentages.

You need to know the following knowledge to solve this word math problem:

Units of physical quantities:

Grade of the word problem:

Related math problems and questions: