A loan of $12 000 was borrowed from a bank at 14% per annum. Calculate?

(i) the interest on the loan at the end of the first year

(ii) the total amount owing at the end of the first year.

A repayment of $7 800 was made at the start of the second year.

Calculate

(iv) the interest on the outstanding amount at the end of second year.

(iii) the amount still outstanding at the start of the second year

A loan of $12 000 was borrowed from a bank at 14% per annum. Calculate?

1.1680

2.13680

3.5880

4.6703.2