How much is the total payment to be made

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Q1. On January 1, 2020, a company borrowed 4,000,000.00 from a bank at the rate of 17% a year. The loan is paid at the rate of 500,000.00 at the beginning of every quarter until the full payment is paid. How much is the total payment to be made for the first periodic payment?

Q2. On January 1, 2020, a company borrowed 4,000,000.00 from a bank at the rate of 14% a year. The loan is paid at the rate of 500,000.00 at the beginning of every quarter until the full payment is paid. How much is the total payment to be made for the third periodic payment?

Reference no: EM133076128

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