A debt of $13,000 with interest at 5% compounded semi-annually is repaid by payments of $1,850 made at the end of every 3 months. Construct an amortization schedule showing the total paid and the total cost of the debt. Complete the amorization schedule. (Round to the nearest cent as needed.) Outstanding Principal Balance $13,000 Payment Number Amount Paid Interest Paid Principal Repaid 1 $1,850 2 $1,850 3 $1,850 4 $1,850 $1,850 6 $1,850 $1,850 $0 The total paid is S. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The total interest is S
A debt of $13,000 with interest at 5% compounded semi-annually is repaid by payments of $1,850 made at the end of every 3 months. Construct an amortization schedule showing the total paid and the total cost of the debt. Complete the amorization schedule. (Round to the nearest cent as needed.) Outstanding Principal Balance $13,000 Payment Number Amount Paid Interest Paid Principal Repaid 1 $1,850 2 $1,850 3 $1,850 4 $1,850 $1,850 6 $1,850 $1,850 $0 The total paid is S. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) The total interest is S
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:A debt of $13,000 with interest at 5% compounded semi-annually is repaid by payments of $1,850 made at the end of every 3 months. Construct an amortization schedule showing the total paid and the total cost of the debt.
Complete the amorization schedule. (Round to the nearest cent as needed.)
Outstanding Principal Balance
$13,000
Payment Number
Amount Paid
Interest Paid
Principal Repaid
1
$1,850
2
$1,850
3
$1,850
$
$
4
$1,850
$
5
$1,850
$4
6
$1.850
$
7
$1,850
$
$
8
$0
The total paid is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
The total interest is S
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