The price of a T.V. set worth $20,000 is to be paid in 20 installments of $1000 each. If the rate of interest be 6% per annum and the first installment be paid at the time of purchase, then the value of the last installment covering the interest as well will be. please also give the solution.

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TopNewestMonthly installments? Yearly installments? Quarterly installments? Please specify what you meant in the problem clearly so as to avoid ambiguity! – Prasun Biswas · 1 year, 8 months ago

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– Rajdeep Dhingra · 1 year, 8 months ago

Monthly installmentsLog in to reply

The problem looks easy, but you know what they say, "Looks can be deceiving." :)

Also, could you state the nature of interest? Simple or compound? – Prasun Biswas · 1 year, 8 months ago

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– Rajdeep Dhingra · 1 year, 8 months ago

SimpleLog in to reply

– Prasun Biswas · 1 year, 8 months ago

Great! I'm on it. :)Log in to reply

@Calvin Lin @megh choksi @Deepanshu Gupta @Pranav Arora

Please Help!!!!!!!!!!!!!Fast – Rajdeep Dhingra · 1 year, 8 months ago

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