An Individual Borrowed $100 000 at a Fixed Interest Rate

question 47

True/False

An individual borrowed $100 000 at a fixed interest rate of 12% p.a.for the entire loan term of 20 years.If the loan is to be repaid through equal monthly instalments,then the regular repayment to the nearest dollar is $1101.

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Definitions:

Resistive Loads

Electrical components or devices within a circuit that primarily consume energy through resistance.

Wave Forms

Graphical representations of electrical signals, showing the variation of voltage or current over time.

Polarity

Refers to the orientation of magnetic or electrical poles, indicating the direction of magnetic or electrical fields.

Molten

Describes a substance that has been heated past its melting point and is in a liquid state, typically referring to metals or glass.