Short Answer
A $10,000 loan made on January 1 at 7%, is to be repaid by payments of $3,500 on July 1, $3,500 on October 1, and a final payment on January 1 of the next year. What is the amount of the final payment required to pay off the loan in full?
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q62: Calculate the maturity value of an investment
Q63: Payments of $7,000 120 days ago and
Q64: Maia's chequing account was $329 overdrawn beginning
Q65: At what simple annual interest rate would
Q66: An $8,000 loan at an interest rate
Q68: The original $3,000 loan was advanced on
Q69: A 9-month term deposit, earning interest at
Q70: Indira paid interest charges of $169.05 on
Q71: $180 is to be paid now. What
Q72: What amount paid on September 24 is