Mathematics
Mathematics, 01.11.2020 18:30, andrewsocold

A bank customer takes out a loan of 500 with a 16% nominal interest rate convertible quarterly. The customer makes payments of 20 at the end of each quarter. Calculate the amount of principal in the fourth payment.

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A bank customer takes out a loan of 500 with a 16% nominal interest rate convertible quarterly. The...

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