exercise:6004793926: Difference between revisions
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(Created page with "A loan of 50,000 id based on an annual effective interest rate of 6%. You are given: #The loan is to be repaid with quarterly payments of 2125 and a final drop payment. #The first payment is due 1.5 years after the loan is taken out. Calculate the number of payments of 2125 to be made. <ul class="mw-excansopts"><li>28</li><li>29</li><li>30</li><li>31</li><li>32</li></ul> {{soacopyright | 2023 }}") |
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A loan of 50,000 | A loan of 50,000 is based on an annual effective interest rate of 6%. | ||
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Latest revision as of 10:13, 14 April 2025
A loan of 50,000 is based on an annual effective interest rate of 6%. You are given:
- The loan is to be repaid with quarterly payments of 2125 and a final drop payment.
- The first payment is due 1.5 years after the loan is taken out.
Calculate the number of payments of 2125 to be made.
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- 29
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Copyright 2023 . The Society of Actuaries, Schaumburg, Illinois. Reproduced with permission.