Question 1179711
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Determine the periodic payments on the given loan or mortgage.
$5,000,000 borrowed at 7% for 30 years, with quarterly payments
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        I used the same formulas as in the post by @CPhill.
        I calculated using MS Excel and Google spreadsheets.
        My final result is different from that by @CPhill.


<pre>
Here's how to calculate the quarterly payment for the loan:

**1. Given Information:**

* Principal (P): $5,000,000
* Annual interest rate (r): 7% or 0.07
* Loan term (t): 30 years
* Compounding periods per year (n): 4 (quarterly)

**2. Calculate the Quarterly Interest Rate (i):**

* i = r / n = 0.07 / 4 = 0.0175

**3. Calculate the Total Number of Payments (N):**

* N = n * t = 4 * 30 = 120

**4. Use the Loan Payment Formula:**

PMT = P * (i * (1 + i)^N) / ((1 + i)^N - 1)

Where:

* PMT = periodic payment
* P = principal
* i = interest rate per period
* N = total number of payments

**5. Plug in the Values:**

PMT = 5000000 * (0.0175 * (1 + 0.0175)^120) / ((1 + 0.0175)^120 - 1)

PMT = 5000000 * (0.0175 * (1.0175)^120) / ((1.0175)^120 - 1)

PMT = 99965.84.     <<<---===  obtained from MS Excel and confirmed by Google spreadsheet.

**Answer:**

The quarterly payment (PMT) is $99,965.84.
</pre>

Solved.


My answer is different from that by @CPhill.