Problem: what annual payment will discharge a debt of rs . 1060 due in 2 years at the rate of 5 % compound interest ?
Rationale: "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"
annotated_formula: divide(multiply(power(add(divide(5, const_100), const_1), 2), 1060), 2)