Rachel borrowed $20000 at 10% p.a. (reducible) and agreed to repay the loan over 4 years with 8 equal half-yearly…
Rachel borrowed $20000 at 10% p.a. (reducible) and agreed to repay the loan over 4 years with 8 equal half-yearly repayments of $3095. What interest rate per half-year will Rachel pay on her loan?
Leave a Reply
Want to join the discussion?Feel free to contribute!