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,
Price of the car Rs.
Deposite Amount Rs.
Quarterly payments Rs.
Rate of interest
To Find :
Principal repaid during the third quarter of the first year
The principal repaid will be Rs.