ok sad but true I've been trying to do this question for over an hour!! Help!
A loan of $30,000 at 5% p.a. is to be settled in equal payments of 3 months, six months and nine months. Calculate the size of the equal payments and let the focal date be six months from now.
I was trying to use this formula and I don't know where I keep going wrong: S=P(1+rt)
A loan of $30,000 at 5% p.a. is to be settled in equal payments of 3 months, six months and nine months. Calculate the size of the equal payments and let the focal date be six months from now.
I was trying to use this formula and I don't know where I keep going wrong: S=P(1+rt)