Zandile is about to purchase a car for R191 810,00 on terms from a car dealer. The terms are R23 235 deposit and the rest paid in equal quarterly payments of R13 292,48 at the end of each quarter for four years. The interest rate is 11,5% per year, compounded quarterly. Considering the amortisation schedule, the principal repaid during the third quarter of the first year,

Answers (1)

 Given ,

                  Price of the car =19181000 Rs.

                 Deposite Amount =23235 Rs.

                 Quarterly payments =1329248 Rs.

                 Rate of interest        =11.5%

               To Find :

            Principal repaid during the third quarter of the first year

            FV=pv(1+fracim)^mn=23235	imes (1+frac11.54)^16=2285.49

         The principal repaid will be  2285.4   Rs.

Most Viewed Questions

Related Chapters

Preparation Products

Knockout NEET 2024

Personalized AI Tutor and Adaptive Time Table, Self Study Material, Unlimited Mock Tests and Personalized Analysis Reports, 24x7 Doubt Chat Support,.

₹ 40000/-
Buy Now
Knockout NEET 2025

Personalized AI Tutor and Adaptive Time Table, Self Study Material, Unlimited Mock Tests and Personalized Analysis Reports, 24x7 Doubt Chat Support,.

₹ 45000/-
Buy Now
NEET Foundation + Knockout NEET 2024

Personalized AI Tutor and Adaptive Time Table, Self Study Material, Unlimited Mock Tests and Personalized Analysis Reports, 24x7 Doubt Chat Support,.

₹ 54999/- ₹ 42499/-
Buy Now
NEET Foundation + Knockout NEET 2024 (Easy Installment)

Personalized AI Tutor and Adaptive Time Table, Self Study Material, Unlimited Mock Tests and Personalized Analysis Reports, 24x7 Doubt Chat Support,.

₹ 3999/-
Buy Now
NEET Foundation + Knockout NEET 2025 (Easy Installment)

Personalized AI Tutor and Adaptive Time Table, Self Study Material, Unlimited Mock Tests and Personalized Analysis Reports, 24x7 Doubt Chat Support,.

₹ 3999/-
Buy Now
Boost your Preparation for JEE Main with our Foundation Course
 
Exams
Articles
Questions