Answer to Question #292981 in Financial Math for Elle

Question #292981

Gerry needs a loan of 8000 € for his holiday trip. The loan period is 1 year and the payments are made quarterly. The loan has fixed principal payment and the interest rate is 3.8 % p.a. How much money Gerry needs for the third payment?

Expert's answer

Answer in progress...

Learn more about our help with Assignments: Math

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. A fisher needs a loan of 12000 € for his boat. The loan period is 1 year and the payments are made
2. If the effective rate of interest is compounded quarterly is 16%, then the nominal rate of interest
3. The simple interest rate which is equal to a discount rate of 12% per year for a period of 18 months
4. John deposit 5,000 pesos in a bank paying 12% compounded quarterly. After 4 years, John decided to c
5. How much was borrowed if a simple interest rate of 7.5% was offered payable in 12 months with intere
6. Mae purchased a home for ₱4,570,000 and obtained a 20-year loan with an annual interest rate of 8.
7. Mae purchased a home for ₱4,570,000 and obtained a 20-year loan with an annual interest rate of 8.