Hint: Outstanding Balance at 20 = (0.59774)*L = L - Value offirst 20 payments at time 20
- A Written Explanation Would Be Helpful None Of The Other Answers I Can Find Are Correct Hint Outstanding Balance At 2 1 (526.01 KiB) Viewed 16 times
A written explanation would be helpful, none of the other answers I can find are correct. Hint: Outstanding Balance at 2
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answerhappygod
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A written explanation would be helpful, none of the other answers I can find are correct. Hint: Outstanding Balance at 2
A written explanation would be helpful, none of the otheranswers I can find are correct.
Hint: Outstanding Balance at 20 = (0.59774)*L = L - Value offirst 20 payments at time 20
Question 4 A loan of L is taken over ten years and will be repaid using the sinking fund method with equal size quarterly payments (i.e. end of quarter) each of size 387.57 at a nominal annual interest rate of q% compounded quarterly. The outstanding balance for this loan after the 20th payment is 0.59774L. Calculate L. Give your answer rounded to the nearest whole number (i.e. X).
Hint: Outstanding Balance at 20 = (0.59774)*L = L - Value offirst 20 payments at time 20
Question 4 A loan of L is taken over ten years and will be repaid using the sinking fund method with equal size quarterly payments (i.e. end of quarter) each of size 387.57 at a nominal annual interest rate of q% compounded quarterly. The outstanding balance for this loan after the 20th payment is 0.59774L. Calculate L. Give your answer rounded to the nearest whole number (i.e. X).