Essay
A loan of $10 000.00 is to be repaid in four equal payments due in three months, six months, nine months, and one year respectively after the date of the loan. Calculate the size of the equal payments if interest is 8.5%.
Correct Answer:
Verified
+ + + = 10000
0.979192166x...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
+ + + = 100000.979192166x...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Related Questions
Q22: The exact number of days between January
Q23: If Inez is charged an interest of
Q24: At what rate of interest must a
Q25: What rate of interest did you receive
Q26: What is the amount to which $7250.00
Q28: You owed $700.00 35 days ago, and
Q29: Ed plans to receive $2000 interest in
Q30: Daniel's credit card statement last month showed
Q31: How much must Fred deposit to earn
Q32: Leo wishes to invest $8000.00 that he