#832 · Algebra · Sequences & series

First installment of a debt repayment

A debt of £3600 is to be repaid by 40 annual instalments forming an arithmetic progression. After 30 instalments have been paid, the debtor dies leaving one third of the debt unpaid. Find the amount of the first instalment.

~5 minAnswer checked instantlyarithmetic progressionsum of series

H. S. Hall & S. R. Knight, Higher Algebra (1891) · Ch. IV. Arithmetical Progression, Examples IV.b, No. 6

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