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10 questions from this quiz
Geometric progression (GP)
(principal + interest) - (instalments + int)
One time period after
a(rn−1)r−1\frac{a(r^n - 1)}{r - 1}r−1a(rn−1)
1%
The initial interest charge
Set An=0A_n = 0An=0 and solve for nnn using logs
An+1=An(1+R)−MA_{n+1} = A_n(1 + R) - MAn+1=An(1+R)−M
The loan is fully paid off
Initial interest is 2000 USD, exceeds payment
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