Question
Amanda took a loan of 10,000 from a bank at 5% interest rate compounded quarterly. The loan is to be amortised by equal quarterly payments
Amanda took a loan of 10,000 from a bank at 5% interest rate compounded quarterly. The loan is to be amortised by equal quarterly payments over 1year, 3months time. i. Find the regular payment Amanda would make. ii. Construct an amortization schedule for the payment of the loan. A. Amanda took a loan of 10,000 from a bank at 5% interest rate compounded quarterly. The loan is to be amortised by equal quarterly payments over 1year, 3months time. i. Find the regular payment Amanda would make. ii. Construct an amortization schedule for the payment of the loan. A. Amanda took a loan of 10,000 from a bank at 5% interest rate compounded quarterly. The loan is to be amortised by equal quarterly payments over 1year, 3months time. i. Find the regular payment Amanda would make. ii. Construct an amortization schedule for the payment of the loan.
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