It appears to me that the interest payment is the only tricky part.
Quote:
Originally Posted by Amber Whittaker pay interest on the note every three months at the rate of 10.125%, compounded semi-annually. |
i-annual-nominal = 0.10125
i-semi-effective = 0.10125/2 = 0.050625
i-quarterly-effective = [(1 + 0.050625)^(1/2)] - 1
You're almost done.