In September 2024
Answer to Question #175540 in Financial Math for abhi
A loan of £ 2,120,000 is repayable by equal quarterly payments for 15 years. The effective rate of interest is 6% pa.
REQUIRED
i. Find the equal quarterly payment amount.
ii. Draw the amortization schedule for the loan repayment.
iii. What is the interest portion paid on the 10th payment?
iv. What is the total interest paid after the 25th payment?
v. What is the amount of capital portion in the 54th payment?
The answer to your question is provided in the image:
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#339914 on Dec 2023
Comments
Dear emi, a solution of the question has already been published.
hi please can you post the answer i badly need it :(
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