Ask Question
2 October, 09:04

Brian took eight years to pay off his $71,900 loan. The loan had an interest rate of 8.16%, compounded quarterly. If Brian paid quarterly and made the same payment every time, how much was each payment that he made?

+2
Answers (1)
  1. 2 October, 09:09
    0
    So P=$71,900

    r=0.0816

    n=4 (because it is quarterly)

    and t=8 (because it took him 8 years to pay off his dept
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Brian took eight years to pay off his $71,900 loan. The loan had an interest rate of 8.16%, compounded quarterly. If Brian paid quarterly ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers