Answer to Question #250112 in Economics for gab

Question

I borrowed 1000 today if i need to pay annually for 10 years how much will my payment be if interest is : 15% compounded bi-monthly during the 1st five ears and 12% compounded continuously during the next five years?

Answer 1

$$\frac{1}{10}\times(1000(1+\frac{0.15}{24})^{10}+1000\times e^{0.6})=288.64$$

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