A $1000 loan is being repaid by payments of $100 at the end of each quarter for as long as necessary, plus a smaller final payment.
1. A $1000 loan is being repaid by payments of $100 at the end of each quarter for as long as necessary, plus a smaller final payment. If the nominal rate of interest convertible quarterly is 16%, find the amount of principal and interest in the fourth payment.(32.51 and 67.49) 2. A loan is being repaid with level payments at the end of each year […]