Find the total length of the loan and the amount


Alex loans Nomar $200,000 at a rate of 4% nominal interest convertible quarterly. They agree that Nomar will repay the loan by making quarterly payments. These payments will each be $25,000 except for the last payment which will be a drop payment. Find the total length of the loan and the amount of the final payment.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Find the total length of the loan and the amount
Reference No:- TGS0709602

Expected delivery within 24 Hours