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Bob has an interest only loan for $80,000.00 maturing in 10 years. The interest rate on the loan is 9.500% compounded quarterly. He will repay
Bob has an interest only loan for $80,000.00 maturing in 10 years. The interest rate on the loan is 9.500% compounded quarterly. He will repay the principle at maturity by making quarterly deposits into a sinking fund paying r(52) = 3.250%. How much are his quarterly deposits? O a $1,495.61. O b. $1,580.59. Oc. $1,937.49. O d. $1,699.56. O e. $1,733.55
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