A Loan Of 300,000 Is To Be Repaid In Full After 2 Years If The Interest Rate Is 8% Per Annum How Should Be Paid After 3 Years

a loan of 300,000 is to be repaid in full after 2 years if the interest rate is 8% per annum how should be paid after 3 years

 

Answer:

337,913.6

Step-by-step explanation:

Given:

P=300,000

j=0.08

n=3 yrs.

Find:F=?

F=P(1+j)n

=300,000(1+0.08)³

=300,000(1.08)³

=300,000(1.259712)

Answer:F=337,913.6