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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 paymen…

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 paymen…
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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.

User Kostub Deshmukh
by
8.3k points

1 Answer

6 votes

Answer: 94500

Explanation:

450,000 x 0.07 x 3 (pXrXt)

User Shibin Raju Mathew
by
8.6k points
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