Hi,

I'm doing a question on loans and I'm busy with Q3c. I see where they get the answer - I just disagree with one part of it. It says (in the first part of the solution to Q3c that the 40th payment = 14000 = 10000+100*40. Surely the 40th payment would be 13900 = 10000 + 100*39 because the increase of 100 per quarter only starts from the second payment?