A loan of $10,000 is to be repaid by 20 equal quarterly payments at a nominal...
Homework Answers
To calculate
Step 1. Effective interest rate semi annually
= Nominal(6%,2)
Formula = r*(1+r/n)^n
= 5.91%
Step 2 . Calculating the cash flows(PMT)
Excel or calculation
Present value(PV) = 10,000
NO of installemnts(NPER) = 20
Interest rate = 5.91/4 (RATE)
Calculate PMT
PMT = -581.82
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A loan of $10,000 is to be repaid by 20 equal quarterly
payments at a nominal...
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32. A loan of $1,000 is to be repaid by equal quarterly installments of X at the end of each quarter over a 3-year period at a nominal rate of interest of 4% compounded quarterly. Find X. Answer: 88.85
Math Interest Theory/ Financial Math Please Use Formulas 1. (4pts) Find the present value, 2 years...
Math Interest Theory/ Financial Math
Please Use Formulas
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Math Interest Theory/ Financial Math
Please Use Formulas
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