Determine the payment to amortize the debt. (round your answer to the nearest cent.) quarterly payments on $19,500 at 3.9% for 6 years.

$24613.15

Step-by-step explanation:

Given,

Since, payment is made quarterly,

We have to calculate the total amount to be paid to amortize the debt.

So, the amount to be paid

A\ =\ P(1\ +\dfrac{r}{n})^{nt}

   =\ 19500(1\ +\dfrac{0.039}{4})^{4\times 6}

   =\ 19500(1+0.00975)^{24}

   = 24613.155

So, the total amount to be paid is $24613.15.

step-by-step explanation:

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answer: check all that apply, where the options?

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