Answer:
$767.49
Step-by-step explanation:
given,
Amount of money = $16,500
quarterly rate = 3.6/4 = 0.9 %
times = 6 × 4 = 24 quarters.
[tex]A =\dfrac{P(r(1+r)^n)}{(1+r)^n-1}\\\\A =\dfrac{16500\times(0.009(1+0.009)^{24})}{(1+0.009)^{24}-1}\\A = \$ 767.49[/tex]
hence, the payment to amortize the dept will be equal to $767.49 .
