Find number of payments and suitable effective interest rate


Suppose that ten year loan has the 12% APR. Find number of payments and suitable effective interest rate per payment period if:

i) Compounding is continuously and payments are made biennially

ii) Compounding and payments are both made semi-annually

iii) Compounding is monthly and payments are made quarterly

iv) Compounding is quarterly and payments are made annually

If loan is for $30000, compute amount of every loan payment in each case (i - iv).

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Mathematics: Find number of payments and suitable effective interest rate
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