What is the size of the final unequal payment of a loan for Rs15 600 and it has monthly payments of Rs500?

Section B (2 Mark)

What is the size of the final unequal payment of a loan for Rs15 600 and it has monthly payments of Rs500? The interest rate is 9.92% compounded quarterly.
A . Rs. 383.11
B . Rs. 380.21
C . Rs. 388.97
D . Rs. 417.27

View Answer

Answer: A