Question:
Roselin borrowed a sum of 6,000 at the annual interest rate of 15% compounded annually. At the end of each year, she pays back 1,200. What is the total amount she has to pay at the end of the third year in order to clear all her dues?
Roselin borrowed a sum of 6,000 at the annual interest rate of 15% compounded annually. At the end of each year, she pays back 1,200. What is the total amount she has to pay at the end of the third year in order to clear all her dues?
Updated On: Oct 25, 2024
- 6,158.25
- 6,000
- 5,132.25
- 5,950
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The Correct Option is A
Solution and Explanation
The correct answer is (A);6,158.25
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