Thursday

October 2, 2014

October 2, 2014

Posted by **chan** on Saturday, October 15, 2011 at 5:50am.

- QM -
**DrBob222**, Saturday, October 15, 2011 at 8:40pmI would make three calculations. The math guys probably have a formula that works it all at once.

First payment is 10,000.

Interest for Jan and Feb = 2 months

150,000 x 0.12 x (2/12) = 3,000 interest and we pay 10,000.

Net loan at end of Feb is 150,000+3000-10,000 = 143,000

Continue in this style to find the last payment.

**Answer this Question**

**Related Questions**

Maths - Solve the problem. Assume that simple interest is being calculated. ...

math - gail borrowed $3600 from a bank to buy a washing machine she pays back ...

math - Allan borrowed $4800 from his father to buy a car. He repaid him after 9 ...

Finance - Consider the following scenario: John buys a house for $150,000 and ...

Finance - Consider the following scenario: John buys a house for $150,000 and ...

Finance - To find the simple interest on a loan for 1 year at 12.5%, multiply ...

math - Harry borrowed $1,800 for two years at 13% a year under an add-on plan. ...

Math - 25. Edith earns an annual gross salary of $17,500. She has 28% of her ...

Math - . Jacksonville Technical College received $3,445,553 in state aid on ...

math - Loan #1 Year Amount owed 1 $3796 2 $3942 3 $4088 Loan # 2 Year Amount ...