Solved: If the interest rate is 65 per annum compounding monthly, Accounting Basics

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If the interest rate is 65 per annum compounding monthly

Question - You owe your parents $10,000 (in present day dollars) and want to repay them in equal amounts the first to occur in 3 years from today and the other in 6 years from today. If the interest rate is 6.5% per annum compounding monthly, what will be the amount of each repayment?

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Accounting Basics: If the interest rate is 65 per annum compounding monthly

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Accounting Basics: If the interest rate is 65 per annum compounding monthly

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