Question
a) Tonya borrowed $30,000 to be repaid quarterly over the next six years. How much will be her quarterly payments if she pays a nominal
a) Tonya borrowed $30,000 to be repaid quarterly over the next six years. How much will be her quarterly payments if she pays a nominal interest rate of 4 percent per year?
b) If Tonya makes her payments at the beginning of each quarter, how much will be her quarterly payments?
Answers:
a) PMT = $1412.20
b) PMT = $1398.22
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Money School Become Financially Independent And Reclaim Your Life
Authors: Lacey Filipich
1st Edition
1760890227, 978-1760890223
