00:01
Honestrian, svartre.
00:02
We have a question here and in this question this is given that the loan amount is taken as l0 is equal to $26 .00.
00:24
This is the loan amount and here we are assuming that assuming that 3 .42 percent as the effective rate of interest this is our rate of interest so to solve this question cost of all we have to calculate the interest rate interest rate payable per month of interest per ann interest per end so here we can see that we have to calculate i at 12, this will be as 12 to the power of 1 and 1 plus i to the power of minus 1 by 12 minus 1.
01:45
That is 12 when we put down the value, this will be 1 .0342 to the power of minus 1 upon 12 minus 1.
01:59
And that is equal to 0 .03367.
02:06
So we can write it as 3 .3367 percent.
02:12
So this is the value for i at 12.
02:19
And now we will solve the monthly payment.
02:25
Let's take monthly payment b x dollar x.
02:41
So here the loan amount will be equal to x a to the value of 20 multiplied by 12.
02:53
And here this is at the rate of i, then i is equal to 0 .0 to 8 .1.
03:01
So we can put the value as 2, 6, 2 pairs of 0s and is equal to xa.
03:10
We will have here 2, 12 into 20 will be 2 .44...