Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. advance math
  3. 3.) you have a loan for $20,000 on which you are c

3.) You have a loan for $20,000 on which you are charged 6% compounded quarterly. What...

80.2K

Verified Solution

Question

Advance Math


3.) You have a loan for $20,000 on which you are charged 6%compounded quarterly. What payment amount at the end of every sixmonths would reduce the loan to $15,000 after two years?

Answer & Explanation Solved by verified expert
4.1 Ratings (809 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

A solution is made by dissolving 0.717 mol of nonelectrolyte solute in 817 g of benzene....

Electrical Engineering
1.2K views

 5. Engineering Ethics  5.1 (3 points) What is Ethics: 5.2 (3 points) Engineers must perform under a...

Accounting
1.2K views

You are a certified public accountant. A client enters your office on April 14 with a...

Biology
1.2K views

How do viruses compare with organisms OA Both contain ribosomes but viruses do not contain...

Physics
1.2K views

A plane mirror makes an between the mirror and the reflected ray Figure shows the...

Physics
1.2K views

Four particles A B C and D with masses mA m mB 2m mc 3m...

Calculus
1.2K views

Find the exact value of cos ?.sin ?= -12/13, ?

Accounting
1.2K views

On April 1, 2022, Guy Comeau and Amelie Lavoi formed a partnershiph in Ontario. Net...

Accounting
1.2K views

Instructions Comman stock S/1 32000 General Joumal

Accounting
1.2K views

Pro forma balance sheet Peobody 8 Peabody has 2022 sales of $109 inilion. It whhes...

Accounting
1.2K views

On April 1, 2010 a company discarded a machine that had cost $20,000 and had...

Finance
1.2K views

Suppose a U.S. government bond will pay $ 3,000 three years from now. If the...