A debt of $14,000 with interest at 8.3%p.a compounding quarterly is to be repaid with 9 equal end-of-quarter payments.
How much interest is in the final instalment?
( use excel: You can either:
- First calculate the loan outstanding at the beginning of the last quarter. The interest can then be calculated as if you were setting up a loan repayment schedule for the final quarter.
- Use IPMT function)
Recently Asked Questions
- I know this is the answer, but can i please get an explanation for it. Thank you.
- Language : C++ Source was made with Visual Studio 2010, on a machine running Windows Vista. This is old source code.. End product should work in Visual Studio
- Discard the answer written. Can I please get an answer with an explanation.