Question

step by step solving plsss im very law in math so plss to solve step by step thanks.On August 1,1990, Mr.Talamos borrows 9,500 pesos and agrees to pay the compounded amont on the day he pays the debt. If interest is at the rate of 5 1/2% compounded quarterly, how much must Mr. Talamos pay to discharge his obligation on january 1,2001?

Answer 1

After 10 5/12 years, the amount is

9500(1 + .055/4)^(4*10.417)

Not sure how the periods are divided into pieces.