A debt of 15,000 with interest at the rate of 15% compounded semiannually is to be amortized by 3 equal payments at the end of each 6 months, the first payment is to be made after 1 year. Find the semiannual payment and construct an amortization schedule tabulation.
A debt of 15,000 with interest at the rate of 15% compounded semiannually is to be amortized by 3 equal payments at the end of each 6 months, the first payment is to be made after 1 year. Find the semiannual payment and construct an amortization schedule tabulation.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 41P
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A debt of 15,000 with interest at the rate of 15% compounded semiannually is to be amortized by 3 equal payments at the end of each 6 months, the first payment is to be made after 1 year. Find the semiannual payment and construct an amortization schedule tabulation.
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