Loan of $10000 with interest at j4 = 12%, is to be amortized by equal payments...

Loan of $10000 with interest at j₄ = 12%, is to be amortized by equal payments at the end of each quarter over a period of 30 quarters. Using the Retrospective Method, Determine the outstanding balance at the end of 12 quarters.

7017.04

14257.61

7016.84

Solutions

Expert Solution

The outstanding balance at the end of 12 quarters is 7017.04

Amortization table is given below:

Screenshot with formulas

jeff jeffy answered 1 year ago

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