A loan of 12,300 at 5% per annum compound interest, is to be repaid in two equal annualinstalments at the end of every year. Find the amount of each instalment.

A loan of 12,300 at 5% per annum compound interest, is to be repaid

1.	A loan of 12,300 at 5% per annum compound interest, is to be repaid in two equal annual instalments at the end of every year. Find the amount of each instalment.
A.	6,651
B.	6,615
C.	6,516
D.	6,156
Answer» C. 6,516

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A loan of 12,300 at 5% per annum compound interest, is to be repaid in two equal annualinstalments at the end of every year. Find the amount of each instalment.

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A loan of 12,300 at 5% per annum compound interest, is to be repaid in two equal annual
instalments at the end of every year. Find the amount of each instalment.