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| rev | Admin | (Created page with "A loan of 20,000 is to be repaid with ten increasing installments payable at the end of each year. Each installment will be 10% greater than the preceding installment. The annual effective interest rate on the loan is 9%. Calculate the amount of principal in the second installment. <ul class="mw-excansopts"><li>292</li><li>527</li><li>975</li><li>1435</li><li>1774</li></ul> {{soacopyright | 2023 }}") | Nov 19'23 at 15:03 | +404 |