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Amina buys a car worth #1.6million. She pays down #800,000 and the remaining amount in...

Amina buys a car worth #1.6million. She pays down #800,000 and the remaining amount in six equal annual instalments. If the compound interest is paid at 4% per annum, what is Amina's annual instalment to the nearest #100?
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Asked by seun on 22nd January, 2021
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