An amortized loan is made at a nominal interest rate i) = 6%. The loan is paid off in 30 level semi-annual payments of $1,000. How much principal was paid off in the 10th рауment? (A) $537.55 (B) $547.55 (C) $557.55 (D) $567.55 (E) $577.55 (F) $597.55

An amortized loan is made at a nominal interest rate i) = 6%. The loan is paid off in 30 level semi-annual payments of $1,000. How much principal was paid off in the 10th рауment? (A) $537.55 (B) $547.55 (C) $557.55 (D) $567.55 (E) $577.55 (F) $597.55

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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Question

12.
An amortized loan is made at a nominal interest rate i(2) = 6%. The loan is paid
off in 30 level semi-annual payments of $1,000. How much principal was paid off in the 10th
раyment?
(A) $537.55
(B) $547.55
(C) $557.55
(D) $567.55
(E) $577.55
(F) $597.55

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