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A debt of $18000 with interest at 8.4% compounded quarterly is to be repaid by equal payments at the end of every three months for two years. Calculate the size of the monthly payments, total amount paid and cost of financing..

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A debt of $18000 with interest at 8.4% compounded quarterly is to be repaid by equal payments at the end of every three months for two years. Calculate the size of the monthly payments, total amount paid and cost of financing.

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  • 1. A debt of $18000 with interest at 8.4% compounded quarterly is to be repaid by equal payments at the end of every three months for two years. Calculate the size of the monthly payments, total amount paid and cost of financing.