Consider a loan of $6700 at 6.5% compounded semiannually, with 18 semiannual payments. Find the following. (a) the payment necessary to amortize the loan (b) the total payments and the total amount of interest paid based on the calculated semiannual payments (c) the total payments and total amount of interest paid based upon an amortization table. ... (a) The semiannual payment needed to amortize this loan is $ 497.50 (Round to the nearest cent as needed.) (b) The total amount of the payments is $ 8955 (Round to the nearest cent as needed.) The total amount of interest paid is $ 2255. (Round to the nearest cent as needed.) (c) The total payment for this loan from the amortization table is $. (Round to the nearest cent as needed.)

Consider a loan of $6700 at 6.5% compounded semiannually, with 18 semiannual payments. Find the following. (a) the payment necessary to amortize the loan (b) the total payments and the total amount of interest paid based on the calculated semiannual payments (c) the total payments and total amount of interest paid based upon an amortization table. ... (a) The semiannual payment needed to amortize this loan is $ 497.50 (Round to the nearest cent as needed.) (b) The total amount of the payments is $ 8955 (Round to the nearest cent as needed.) The total amount of interest paid is $ 2255. (Round to the nearest cent as needed.) (c) The total payment for this loan from the amortization table is $. (Round to the nearest cent as needed.)

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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