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21 July Business Mathematics
21 July Business Mathematics
(2000*(1.05)^n-1))/(.05(1.05)^n) = 20000
(2000*((1.05)^14.5-1))/(.05(1.05)^14.5)
A=4000000/442
=9037 approx.
=( A *((1.01)^120-1))/.01(1.01)^120
=A = 500000/759
=658 per month.