The Interest Rate on a $200,000 Loan Is 8% Compounded

question 189

Short Answer

The interest rate on a $200,000 loan is 8% compounded quarterly.
a) What payments at the end of every quarter will reduce the balance to $150,000 after 3½ years?
b) If the same payments continue, what will be the balance seven years after the date that the loan was received?
c) How much interest will be paid during the first seven years?

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Definitions:

GABA

Gamma-Aminobutyric Acid, a neurotransmitter in the brain that inhibits nerve transmission, helping to regulate neuronal excitability.

Voltage-gated Ion Channels

Channels that open or close in response to changes in membrane potential, allowing ions to pass through the membrane.

Presynaptic Terminal

The end part of an axon from which the release of neurotransmitters happens to signal the next neuron across a synaptic gap.

Synapse

The junction between two neurons where electrical or chemical signals are transmitted from one neuron to another.