Simple interest- based on average daily balance- 6 year at, Ask an Expert

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Simple Interest- based on Average Daily balance- 6 Year at 8%

Principle $829,000.00 Loan date : 12/24/2017

ADB based on 8%: 181.6986 ADB based on 4%: 90.8493 ADB based on 2%: 45.4247

Repayment Terms: Quarterly interest accruing at 0% for first year; 2% interest per quarter for quarter 5-20; 4% interest per quarter for quarter 21-24. Principle repaid at Maturity.

What is the quarterly simple interest due on a 6 year 8 percent investment from 12/24/2017 being paid at 2% per qtr beginning qtr 5-20 and 4% qtr 21-24. Principle is $829000.00 ( no interest first year) Maturity date is 12/24/2023.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92862287

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