
Economics Economics Forum  Financial Mathematics, Econometrics, Operations Research, Mathematical Finance, Computational Finance 
 LinkBack  Thread Tools  Display Modes 
November 30th, 2015, 10:32 AM  #1 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,131 Thanks: 1003  Need a loan?
A loan of 20,000 is arranged this way: 4 equal annual payments of p extra payment of 3,000 at end of year 2 and year 4 year 1 rate: 6% year 2 rate: 7% year 3 rate: 8% year 4 rate: 9% Those rates are the effective rates; as example, 1st year's interest = 20000* .06 = 1,200 It'll look like: Code: YEAR PAYMENTS INTEREST BALANCE 0 20000.00 1 p 1200.00 ? 2 p ? ? 2 3000.00 .00 ? 3 p ? ? 4 p ? 3000.00 4 3000.00 .00 .00 at our Bank, you need to calculate p. Good Luck! 

Tags 
loan 
Thread Tools  
Display Modes  

Similar Threads  
Thread  Thread Starter  Forum  Replies  Last Post 
% payment loan  Denis  Algebra  1  July 8th, 2016 05:22 PM 
% payment loan  Denis  New Users  1  June 5th, 2013 09:45 AM 
Need help calculating a car loan  pinny  Elementary Math  1  April 3rd, 2013 07:40 AM 
Annuity loan  Brandonlive  Elementary Math  1  September 14th, 2012 06:29 AM 
Loan  CoolX  Economics  4  October 27th, 2010 02:51 AM 