Your client saving account has a stated annual interest rate of 7.89 percent, compounded monthly. However, your client wants to  make payments quarterly, rather than monthly, Assuming the amount borrowed is $332,076, what payments would the borrower have to make quarterly to pay the loan off in 9 years?

Answer rating: 100% (QA)

To calculate the quarterly payments needed to pay off the loan in 9 years we can use the formula for ... View the full answer