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= ? 750 4-66 A A debt of $5000 can be repaid, with interest at 8%, by the following payments. How much is X? Year Payment $ 5

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Answer #1

In the question, they have not mentioned which interest so by default we will take simple interest

so simple interest = principal*rate*no. of years

=5000*8/100*5

=2000, so amount will be 2000+5000 = 7000

hence X will be equal to 7000-500-1000-1500*2000

=2000 Ans.

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