If all you want to know is the amount to be paid by gizelle every year for 10 years, then do the following:
Write an equation that says gizelle has to pay the bank $1,800,000. You can then read off the equation and determine that she will pay the bank $1,800,000 annually. This is because she has to pay the interest due every year plus the principal. It is not necessary to add the amounts together.
You will be able to find out that she has to pay the bank $1,800,000 at the end of the 10-year period.
The question really means to find the total amount of money she has to pay for the first year.
For each of the years, multiply the amount that she must pay the bank by the rate.
If the rate is 5%, then multiply the amount that she must pay by the 5%. You should have $180,000.
Since the rate is 5%, you can use a formula to find the amount that she will have to pay. The formula is:
rate ÷ 100 = interest
You should get 0.05 ÷ 100 = 0.0050, which equals $50,000. This is the amount she has to pay for the first year.
You should then take 5% of $180,000 to find that she will have to pay $9,000 for the first year.
Now you should do this with each year to find the total amount she has to pay for the first year.
For example, the rate is 5%, so you get $50,000 for each year. You can just add all the amounts together to get the amount she will pay. The total is $150,000.
You should then use a formula to find the amount she will pay. The formula is:
total ÷ 365 = amount to pay
You should have $150,000 ÷ 365 = $4,096.
You will be able to find that she will pay $4,096.
Now, when you do this for the next 9 years, you will find that you will get different amounts. The reason is that the amount she will have to pay the bank each year depends on the amount that she borrowed. In other words, how much the bank gives her back.
