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Q: Problem in Trigonometry A man has a loan which he promised to pay in 18 equal monthly installments of P600 How much must he have paid in 8 mnths 12 mnths 15 mths and 10 mnths?

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he published them in monthly installments.

monthly installments

Cash flow notes are basically money promised to a person by another. This could be in the form of an annuity or loans when business assets are used at collateral. These are usually paid in monthly installments.

A property that is bought by means of monthly payments is said to be paid by installments.

The question can be answered only for the loan with zero interest. The loan is then 10,800 (18 x 600) that could also be paid by 1350 a month for 8 months 1080 a month for 10 months 900 a month for 12 months 720 a month for 15 months In the case the loan is not interest free the problem cannot be solved, since there are two unknown variables: a principal amount (an amount borrowed) and an annual interest rate and only one equation. For instance if you borrow 10,000 with 10% annual interest rate, the loan will be paid off in 18 monthly installments of 600, which corresponds to the question. For the same principal (10,000) and annual interest rate (10%) the loan would have been paid off in: 8 month installments of 1297; 10 month installments of 1046; 12 month installments of 879; 15 month installments of 712. But you can still have the loan with other pairs of principal and interest rate with 18 monthly installments of 600. There is a suitable Excel formula PMT too. Monthly installments can be calculated by formula: Monthly installment = Principal x {rate + (rate / [(1+rate)months - 1]} where rate = (annual rate / 12), i.e. 10% => 0,1/12

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installment credit

installment credit

Equated Monthly Installments: Hire, purchase, lease, or loan-repayment installments that are constant in amount, and are usually collected in advance as post-dated checks.

Usually refers to credit cards or any other debt you are paying off in monthly installments.

When you take a monetary payout in installments, especially in an annuity (yearly installments) you must pay taxes on each installment. While this wouldn't be a problem for a monthly payout, taking a lump sum payout on an annuity means you only have to pay taxes once on it. Typically a cash settlement will be less than the total of the installments. The advantage is that you have the money all at once. Of course you'll have to pay taxes on it if the settlement isn't exempt from taxes.

the answer is b 24 dollars

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