what annual payment will discharge a debt of rs. 1060 due in 2 years at the rate of 5 % compound interest? Pick one:  A) 993.2  B) 551.25  C) 570.07  D) 543.33  E) 646.33
<gadget id="calculator">5 / 100</gadget>
<output>1/20 = around 0.05</output>

<gadget id="calculator">(1/20) + 1</gadget>
<output>21/20 = around 1.05</output>

<gadget id="calculator">(21/20) ** 2</gadget>
<output>441/400 = around 1.1025</output>

<gadget id="calculator">(441/400) * 1_060</gadget>
<output>23_373/20 = around 1_168.65</output>

<gadget id="calculator">(23_373/20) / 2</gadget>
<output>23_373/40 = around 584.325</output>

<result>C</result>
what annual payment will discharge a debt of rs. 1060 due in 2 years at the rate of 5 % compound interest?
divide(multiply(power(add(divide(5, const_100), const_1), 2), 1060), 2)
"explanation : let each installment be rs . x . then , x / ( 1 + 5 / 100 ) + x / ( 1 + 5 / 100 ) 2 = 1060 820 x + 1060 * 441 x = 570.07 so , value of each installment = rs . 570.07 answer : option c"