The original quarterly repayment amount using the formula for a fixed installment loan Original loan amount (P) N$1,500,000 Interest rate per year (r) 8 0 08 Interest rate per quarter (i) 8 4 0 08 4 0 02 By how much will the quarterly repayments of Mr Vries be reduced ...

To calculate the reduction in Mr Vries quarterly repayments well first need to find the original qua ...

The original quarterly repayment amount using the formula for a fixed installment loan: Original loan amount (P)

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The original quarterly repayment amount using the formula for a fixed installment loan:

Original loan amount (P) = N$1,500,000
Interest rate per year (r) = 8% = 0.08
Interest rate per quarter (i) = 8% / 4 = 0.08 / 4 = 0.02

By how much will the quarterly repayments of Mr Vries be reduced?

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Intermediate Accounting

ISBN: 978-0470161012

9th Canadian Edition, Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.

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Posted Date: Aug 11, 2023 01:21 AM

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The original quarterly repayment amount using the formula for a fixed installment loan: Original loan amount (P)

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