first step is to find the quarterly payment.
Did you do that ?
A five-year loan of $25,000 at 7.2% compounded quarterly requires quarterly payments. (Round your answer to 2 decimal places.)
a. Calculate the interest component of Payment 10.
Interest component $
b. Calculate the principal component of Payment 13.
Principal component $
c. Calculate the total interest in Payments 5 to 10 inclusive.
Total interest $
d. Calculate the principal paid in Year 4.
Principal paid $
3 answers
Using pv formula?
yes