To solve this problem, we need to calculate the periodic payment for the loan. To do this, we can use the following formula:
Periodic Payment = (Interest rate/Number of payments per year) x (Loan amount/1 - (1+Interest rate/Number of payments per year)^-Number of payments)
In this case, the interest rate is 8% per annum, which means that the interest rate per quarter is 2%. The number of payments per year is 4, since the payments are made quarterly. The loan amount is P100,000.
Plugging these values into the formula, we get:
Periodic Payment = (2/4) x (100000/1 - (1+2/4)^-6)
Solving this equation gives us a periodic payment of P4,054.14.
I hope this helps! Let me know if you have any other questions.
Answers & Comments
Answer:
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Step-by-step explanation:
To solve this problem, we need to calculate the periodic payment for the loan. To do this, we can use the following formula:
Periodic Payment = (Interest rate/Number of payments per year) x (Loan amount/1 - (1+Interest rate/Number of payments per year)^-Number of payments)
In this case, the interest rate is 8% per annum, which means that the interest rate per quarter is 2%. The number of payments per year is 4, since the payments are made quarterly. The loan amount is P100,000.
Plugging these values into the formula, we get:
Periodic Payment = (2/4) x (100000/1 - (1+2/4)^-6)
Solving this equation gives us a periodic payment of P4,054.14.
I hope this helps! Let me know if you have any other questions.
Answer:
To determine the periodic payment for an amortized loan, you can use the following formula:
Payment = (Interest rate/Number of payments per year) x (Principal / (1 - (1 + (Interest rate/Number of payments per year))^(-Number of payments)))
In this case, the periodic payment would be calculated as follows:
Payment = (8/4) x (100,000 / (1 - (1 + (8/4))^(-6)))
This simplifies to:
Payment = (2) x (100,000 / (1 - (1 + 2)^(-6)))
This further simplifies to:
Payment = 2 x (100,000 / (1 - (3)^(-6)))
This simplifies to:
Payment = 2 x (100,000 / (1 - (1/3)))
This further simplifies to:
Payment = 2 x (100,000 / (1 - (1/3)))
This simplifies to:
Payment = 2 x (100,000 / (2/3))
This further simplifies to:
Payment = 2 x (100,000 / (2/3))
This simplifies to:
Payment = 2 x (100,000 / (2/3))
This further simplifies to:
Payment = 2 x (150,000)
This simplifies to:
Payment = 300,000
Therefore, the periodic payment for the loan would be P300,000.