Loan payment each quarter is equal

Reference no: EM13316481

The owner of a small business borrowed $20,809 with an agreement to repay the loan with quarterly payments over a 10 year time period. If the interest rate is 12% per year compounded quarterly, his loan payment each quarter is equal to:

Reference no: EM13316481

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Loan payment each quarter is equal : The owner of a small business borrowed $20,809 with an agreement to repay the loan with quarterly payments over a 10 year time period. If the interest rate is 12% per year compounded quarterly, his loan payment each quarter is equal to:

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