can anyone give me a hint on what to do for this question..
Geroge and mildred take out a loan for 150000 on Septemeber the first, 1988 with interest at 6.5% p.a compounding monthly starting on september 1 1988
after exactly 10 years there is an interest rate increase of 1.35% to make the...
Not to sure if this is the way that you do it but here it goes
Do not copy this answer as i know it is wrong and it is incomplete, this just gives you an idea....
you have to find the annuity of the first 5 years before lump payment
i is interest paid
n is period
i=0.08\12
n=5*12...
i was wondering if anyone is interested in helping me with a finance maths assignment. I'm from queensland so it is probably different. It's on annuities, so if you could that would be great. You can email me or post an answer and i can give you the details of it if you want to help. Thanks -