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A debt of $16,000 with interest at 7.6%p.a compounding quarterly is to be repaid with 8 equal end-of-quarter payments. How much interest is in the
A debt of $16,000 with interest at 7.6%p.a compounding quarterly is to be repaid with 8 equal end-of-quarter payments. How much interest is in the final instalment? (Hint 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) 
A debt of $16,000 with interest at 7.6%p.a compounding quarterly is to be repaid with 8 equal end-of-quarter payments. How much interest is in the final instalment? (Hint 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)
A debt of $16,000 with interest at 7.6%p.a compounding quarterly is to be repaid with 8 equal end-of-quarter payments.
How much interest is in the final instalment?
(Hint 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)
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College Physics
Authors: Raymond A. Serway, Jerry S. Faughn, Chris Vuille, Charles A. Bennett
7th Edition
978-0495113690
