Simple and Compound Interest
 

Simple and Compound Interest problem 39


Calculate the purchase price of an apartment if we know that the Novak family paid a deposit of € 45000 for the apartment immediately, and will pay the rest with eight consecutive annual annuities. The amount of an individual annuity is € 14000, the first will be paid in 2 years. When calculating, take into account the annual accrual of interest and 5% interest rate. Also make a depreciation plan.


 

material editor: Theophilus Borgbara