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A company has borrowed $50000 at 10% compounded quarterly. The debt is amortized by equal payment each quarter ove 15 years. Find the quarterly payments and how much interest will be paid?
A company has borrowed $50000 at 10% compounded quarterly. The debt is amortized by equal payment each quarter ove 15 years. Find the quarterly payments and how much interest will be paid?

Respuesta :

7500000 is interest will pay quarterly .

What do compound and simple interest mean?

  • Simple Interest is the amount returned for using the borrowed funds over a predetermined amount of time.
  • When the total principal amount surpasses the payment due date and the interest rate over a certain period of time, this is known as compound interest. S.I. = (P, T, and R) x 100 is the formula.

p = $50000

r = 10%

t = 15 years

interest  =  50000  * 10 * 15 /100

               = 7500000

Learn more about Simple Interest

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