Mathematics, 05.07.2019 09:00 sydneyyyy7014
Aloan of $2100 is to be repaid with quarterly payments for 9 years at 9.8% interest compounded quarterly. calculate the quarterly payment.
Answers: 1
![\bf ~~~~~~~~~~~~ \textit{Amortized Loan Value} \\\\ pymt=P\left[ \cfrac{\frac{r}{n}}{1-\left( 1+ \frac{r}{n}\right)^{-nt}} \right]](/tpl/images/0053/5177/e1b49.png)
![\bf pymt=2100\left[ \cfrac{\frac{0.098}{4}}{1-\left( 1+ \frac{0.098}{4}\right)^{-4\cdot 9}} \right] \implies pymt=2100\left[ \cfrac{0.0245}{1-\left( 1.0245\right)^{-36}} \right] \\\\\\ pymt\approx 2100\left[ \cfrac{0.0245}{0.5816215} \right]\implies pymt\approx 2100(0.0421236) \\\\\\ pymt\approx 88.45956](/tpl/images/0053/5177/ce5ed.png)
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