A loan has to be repaid over 3n years, through annual repayment installments of 5000 each at an annual interest rate of 10%. Sum of the Interests paid in the (n+1) and that in the 2n+1 year is 5000.
calculate the number of years over which the loan is to be repaid.
I normally use the present value or future value formula, unsure how to use those formulas in this situation, as I dont have a value for the debt.
any help appreciated.