Q. Explain about Deferred Payment?
suppose a person take a loan of a specified amount at a given rate of the interest. he wants to repay this loan together with the interest in such a way that the annual amount being paid is same and the future that the first payment, a few year from now , in this case the interest for the period for which the payment has been delay should also be consider in finding out the annual payment of the interest. The repayment is to be start only at the end of the third year.