"Air Con Ltd is providing firms with a loan that takes into account the scrap value of the equipment at the end of a loan with a special balloon payment at the end of the loan. On a $185,000 aircondtioning system the firm will make 19 regular quarterly payments and in quarter 20 pay the balloon payment of $50,000. If the loan interest rate is 12.8%p.a. what is the amount of the 19 regular quarterly repayments."
- 7105.26
- 9592.53
- 11253.08
- 13145.31
- 11199.85