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soha

Real Member

Registered: 2006-07-07

Posts: 2,530

A Loan..............helppppp

A Loan Has To Be Paid Back In Three Equal Instalments Of Rs.24334.if The Rate Of Intrest Charged Is 15% Per Annum Compounded Annually,find The Loaned Money.

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"Let us realize that: the privilege to work is a gift, the power to work is a blessing, the love of work is success!"
- David O. McKay

John E. Franklin

Member

Registered: 2005-08-29

Posts: 3,588

Re: A Loan..............helppppp

Are the three payments monthly payments or another time span?

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igloo myrtilles fourmis

soha

Real Member

Registered: 2006-07-07

Posts: 2,530

Re: A Loan..............helppppp

i don't know................................it was given in my question paper..

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"Let us realize that: the privilege to work is a gift, the power to work is a blessing, the love of work is success!"
- David O. McKay

George,Y

Member

Registered: 2006-03-12

Posts: 1,379

Re: A Loan..............helppppp

Annual payment
24334/1.15+24334/1.15²+24334/1.15³
Quaterly 1+0.15/12 instead of 1.15 since when you say monthly deposit interest rate 15% annually you mean monthly interest rate simply 15%/12.

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X'(y-Xβ)=0

soha

Real Member

Registered: 2006-07-07

Posts: 2,530

Re: A Loan..............helppppp

so.................................................................................
....................................................................................
....................................................................................
.....................................................................        .......
whats the answer

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"Let us realize that: the privilege to work is a gift, the power to work is a blessing, the love of work is success!"
- David O. McKay

soha

Real Member

Registered: 2006-07-07

Posts: 2,530

Re: A Loan..............helppppp

help briefly and urgently anyone ....fast

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"Let us realize that: the privilege to work is a gift, the power to work is a blessing, the love of work is success!"
- David O. McKay

Patrick

Real Member

Registered: 2006-02-24

Posts: 1,005

Re: A Loan..............helppppp

I would help you, but I just can't understand what you wrote in the first post. Sorry.

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George,Y

Member

Registered: 2006-03-12

Posts: 1,379

Re: A Loan..............helppppp

55559=24334*2.2832, where 2.2832 is the ratio of present value to annual payment in 3 years at interest rate 15%

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X'(y-Xβ)=0

soha

Real Member

Registered: 2006-07-07

Posts: 2,530

Re: A Loan..............helppppp

answeer is ?

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"Let us realize that: the privilege to work is a gift, the power to work is a blessing, the love of work is success!"
- David O. McKay

George,Y

Member

Registered: 2006-03-12

Posts: 1,379

Re: A Loan..............helppppp

55559

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X'(y-Xβ)=0

soha

Real Member

Registered: 2006-07-07

Posts: 2,530

Re: A Loan..............helppppp

i tried this one now, and got answer  99560
mine is wrong??????????????????????

:donno:

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"Let us realize that: the privilege to work is a gift, the power to work is a blessing, the love of work is success!"
- David O. McKay

George,Y

Member

Registered: 2006-03-12

Posts: 1,379

Re: A Loan..............helppppp

Probably yes. 24334*3=73002. And the present value should be lesser than this because 24334 in  next year doesn't worth as much as in this year.
99560>73002 thus wrong.

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X'(y-Xβ)=0

soha

Real Member

Registered: 2006-07-07

Posts: 2,530

Re: A Loan..............helppppp

Ok I Understand
Thank U  For Helping

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"Let us realize that: the privilege to work is a gift, the power to work is a blessing, the love of work is success!"
- David O. McKay