<e> 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?
S-value of loan
P- 1/100 of interest rate.
N - lian period in minth
P=3.8/(100x12)=0.00316666667
Comments