Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 02, 2024

You borrow $200,000. The loan requires 24 quarterly repayments at an interest rate of 8% p.a. compounded quarterly. What is the loan outstanding after the

You borrow $200,000. The loan requires 24 quarterly repayments at an interest rate of 8% p.a. compounded quarterly. What is the loan outstanding after the first quarterly repayment?

6,574.22

$193,425.78

$189,425.78

$10,574.22

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Options Trading For Beginners How To Generate Predictable Income And Make A Living Without Taking Big Risks Even If You Re A Complete Beginner

Authors: Greg Middleton

1st Edition

979-8866955046

More Books

Students also viewed these Finance questions

Question

What makes the difference between a level 1/ level 2/ level 3 manager?

Answered: 1 week ago

Question

★★★★★

Formatone plc produced the following trial balance as at 30 June 20X6: The following information is available: (i) A revaluation of the Land and Buildings on 1 July 20X5 resulted in an increase of...

Answered: 1 week ago

Question

★★★★★

You borrow $200,000. The loan requires 24 quarterly repayments at an interest rate of 8% p.a. compounded quarterly. What is the loan outstanding after the first quarterly repayment? 6,574.22...

Answered: 1 week ago

Question

★★★★★

Hi i have a question with a function, i can't know what kind of tipe they are: f ( x ) = x 3 + 2 f ( x ) = x 2 1 + 5 f ( x ) = 2 x I don't know if they are bijective, injective or superjective...

Answered: 1 week ago

Question

★★★★★

2. Mr. E. Terry, an engineer, begins a small consulting business. The accounts for the firm are as follows: Bank A/R-various Office Supplies Office Furniture Automobile Equipment A/P-various GST...

Answered: 1 week ago

Question

★★★★★

One year ago, you purchased a stock at a price of $32.50. The stock pays quarterly dividends of $.40 per share. Today, the stock is worth $34.60 per share. What is the total dollar return per share...

Answered: 1 week ago

Question

★★★★★

The following information is given about M/s. Tiara Ltd.: Number of Units manufactured during the month - 1,000, Direct materials consumed - 20,000, Direct labour - 8,000, Indirect labour (in...

Answered: 1 week ago

Question

★★★★★

b) BNB Ltd uses a standard costing system. The standard cost card for one of its products shows that the product should use 6 kgs of material Q per finished unit, and that the standard price per kg...

Answered: 1 week ago

Question

★★★★★

Simon Sinek made a statement Leaders Eat Last. What does this mean to be a leader that eats last? How can you apply this concept as a Licensed Nursing health Administrator of a nursing...

Answered: 1 week ago

Previous Question Next Question