Solution-What was the third payment

What was the third payment

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Question - On February 10, 2012, Sheena took out a $12,000 loan. The loan was repaid by payments of $3200 on April 15, 2012, $4000 on June 18, 2012 and a final payment on September 12, 2012. What was the third payment if the interest rate on the loan was 8¼% (Use the date of the final payment as the focal date)?

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What was the third payment

Reference no: EM132794564

Reference no: EM132794564

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