You will be making quarterly payments on your $10,000 loan. The interest rate is 8%. How...
| You will be making quarterly payments on your $10,000 loan. The interest rate |
| is 8%. How much are your payments if you plan on paying off the loan in 5 years? |
Using excel
Homework Answers
The payments are made quarterly so it means 4 payments in a year.
So the interest rate will be divided by 4 and the number of years will be multiplied by 4.
the lin to excel file is
https://docs.google.com/spreadsheets/d/1xlKghoO-IO-tL7UsHXCFd1sTc8gs5vRcaWlP2d3y9Ns/edit?usp=sharing
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You will be making quarterly payments on your $10,000 loan. The
interest rate
is 8%.
How...
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13-19 odd please
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3. You plan to borrow $35,000 at a 5% annual interest rate. The terms require you to amortize the loan with 7 cqual end-of-year payments. How much total interest would you be paying after the first two years and after 7 years?
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