A company obtained $500000 for a necessary technology from a venture capitalist

Question

A company obtained $500000 for a necessary technology from a venture capitalist who charges them 24% compounded monthly. the agreement calls for no payment until the end of the first month of the fourth year, with equal monthly payments thereafter for 3 complete years (36 payments)

A.) how much are the monthly payments?

B.) What is the total interest paid to the lender?

C.) What is the total principal paid to the lender?

D.) if the company is doind ecredibly well and would like to pay off the debt immediately after making the 24th payment in month 60, how much must they pay?

Please no excel

these are the answers but im haveing trouble with them.

A.) 40,015.30

B.) 940,550.79

C.) 500,000

D.) 423,175.45

Explanation / Answer

b

d

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