SOLUTION: At an opening sale you buy a refrigerator for which you have to pay R4 000 in a year’s time. Six months later you receive a bonus of R2 500 and immediately use it as a payment o

Question 1135949: At an opening sale you buy a refrigerator for which you have to pay R4 000 in a year’s time. Six months
later you receive a bonus of R2 500 and immediately use it as a payment on the refrigerator. The payment
receives interest at a rate of 9% per year, compounded quarterly.
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
not sure what you're looking for, but my calculations show that you owe $1,758.57 at the end of year.

if you're looking to see how much more additional payments you have to make each quarter, that's something else.

my calculation show that the additional payhment you have to make each quarter is $425.08.

i used excel to make this calculation.

here's what the excel spreadsheet looks like.

$$$

any questions, email dtheophilis@gmail.com

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