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Sveta_85 [38]
2 years ago
15

Write down the loan factor that will be used in calculations if magda decides to pay her monthly repayments over a 25 year perio

d at an interest rate of 10.75 percent
Mathematics
1 answer:
katrin [286]2 years ago
4 0

The loan factor that would be used for the calculation is; 12.84

<h3>Loan factors in Compound interest</h3>

According to the question;

  • We are required to determine the loan factor that would be used for the calculation.

The loan factor to be used to calculate the amount to be paid is given from compound interest formula as;

Loan factor = (1 + 0.1075)²⁵

Hence;

Loan factor = (1.1075)²⁵

<em>Loan factor </em>= 12.84.

Read more on loan factors;

brainly.com/question/24576997

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