A debt of $52000 with interest at 9.6% compounded quarterly is to be repaid by equal payments at the end of every three months for five years. Calculate the size of the payments, total amount paid and cost of financing. PV=$ IY= C/Y= |= n=

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 17P
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A debt of $52000 with interest at 9.6% compounded quarterly is to be repaid by equal payments at the end of every three months for five years. Calculate the size of the monthly
payments,total amount paid and cost of financing.
PV =$
I/Y=
C/Y=
i=
n =
PMT=$
AMOUNT PAID =$
COST OF FINANCING=$
2 d.p.
2 d.p.
2 d.p.
Transcribed Image Text:A debt of $52000 with interest at 9.6% compounded quarterly is to be repaid by equal payments at the end of every three months for five years. Calculate the size of the monthly payments,total amount paid and cost of financing. PV =$ I/Y= C/Y= i= n = PMT=$ AMOUNT PAID =$ COST OF FINANCING=$ 2 d.p. 2 d.p. 2 d.p.
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