Homework Answers
a. Discount Loan After Year 1
| SNO | Beginning Balance | Annual Increase(Beginning Balance *1.12) | Ending Balance |
| 1 | 10000 | 10000*1.12 | 11200 |
Ending Balance = 11200$
Discount Loan Table
| SNO | Beginning Balance | Annual Increase(Beginning Balance *1.12) | Ending Balance |
| 1 | 10000.00 | 10000*1.12 | 11200.00 |
| 2 | 11200.00 | 11200*1.12 | 12544.00 |
| 3 | 12544.00 | 12544*1.12 | 14049.28 |
| 4 | 14049.28 | 14049.28*1.12 | 15735.19 |
| 5 | 15735.19 | 15739*1.12 | 17623.42 |
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