How many payments are required to repay the loan, Accounting Basics

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How many payments are required to repay the loan

Question: A loan of Rs. 50,000 is to be repaid in equal annual Instalments of Rs. 14,000. The Loan carries a 6% Interest rate. How many payments are required to repay this loan. A.3 instalments of 14000 and 2 of 12000 B.5 Instalments of 14000 C.4 Insatment of 14000 and last of interest 113 and Principal repayment of 1879 D.None of the above

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Accounting Basics: How many payments are required to repay the loan

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