The local high school soccer club need to borrow to finance a new soccer field. Repayment of the loan involves payments of $10 000.00 at the end of every three months for eight years. No payments are to be made during the development period of five years. Interest is 8% compounded quarterly.
a) How much did the Achievers borrow?
b) What amount will be repaid?
c) How much of that amount will be interest?

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The Answer of The local high school soccer club need to borrow to finance a new soccer field. Repayment of the loan involves payments of $10 000.00 at the end of every three months for eight years. No payments are to be made during the development period of five years. Interest is 8% compounded quarterly.
a) How much did the Achievers borrow?
b) What amount will be repaid?
c) How much of that amount will be interest?

The Local High School Soccer Club Need to Borrow to Finance