Question: 19 hi could i please get help for this question regarding loans A loan of $50,000 is to be repaid by two equal repayments of

19

hi could i please get help for this question regarding loans

A loan of $50,000 is to be repaid by two equal repayments of X. One repayment is due at the end of 2 years, the second repayment is due at the end of 6 years. The interest rate is at 4% p.a. compounded quarterly for the first 3 years and then 4.4% p.a. compounded quarterly thereafter. What is the size of each repayment?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!