Question
still part of the same Q,
After 8 years the interest rate drops to 18percent p.a,compounded monthly and the present value of the loan is R128 951.39. What will his new monthly payments be?
After 8 years the interest rate drops to 18percent p.a,compounded monthly and the present value of the loan is R128 951.39. What will his new monthly payments be?
Answers
Reiny
This is just finding the P of a PV.
Same formula, same story.
Same formula, same story.