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you hope to borrow $450,000 at 7% interest per annum compounded quarterly. You will repay the loan in one payment at the end of 3 years. calculate the amount of this loan payment.
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19 votes
19 votes
you hope to borrow $450,000 at 7% interest per annum compounded quarterly. You will repay the loan in one payment at the end of 3 years. calculate the amount of this loan payment.

User Djamel Korei
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3.1k points

1 Answer

15 votes
15 votes

Answer: 94500

Explanation:

450,000 x 0.07 x 3 (pXrXt)

User Rohit Raghuvansi
by
3.2k points
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