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a loan of 120 220 with an interest rate of 12 capitalized quarterly is repaid using equal payments made at the end of each

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A loan of $120,220 with an interest rate of 12% capitalized quarterly is repaid using equal payments made at the end of each month for a period of 25 years. What is the monthly rate equivalent to the annual rate of 12% capitalized quarterly? (2 points) Find the amount of each monthly payment required to repay this loan. Using an appropriate financial amortization schedule, determine: What is the loan balance after one year? After one year, what is the total amount of interest paid?

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Answer to a math question A loan of $120,220 with an interest rate of 12% capitalized quarterly is repaid using equal payments made at the end of each month for a period of 25 years. What is the monthly rate equivalent to the annual rate of 12% capitalized quarterly? (2 points) Find the amount of each monthly payment required to repay this loan. Using an appropriate financial amortization schedule, determine: What is the loan balance after one year? After one year, what is the total amount of interest paid?

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85 Answers

1,126=\left(1+x\right)^{12}

\left(1+\frac{0,12}{4}\right)^4=\left(1+x\right)^ {12}

x=\sqrt[12]{1.126}-1=0.01=1\%

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