$2300 made at the end of each 6 months, construct a partial amortization schedule showing the last three payments, paying interest at 8% compounded semi-annually. If the loan is repaid by payments of the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number 5 6 7 Amount Paid Interest Paid Principal Repaid $ Interont Ro $2300 $2300 4 $ Outstanding Principal $0 Total Paid = $ (Do not round until the final answer. Then round to the nearest cent as needed.)
$2300 made at the end of each 6 months, construct a partial amortization schedule showing the last three payments, paying interest at 8% compounded semi-annually. If the loan is repaid by payments of the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number 5 6 7 Amount Paid Interest Paid Principal Repaid $ Interont Ro $2300 $2300 4 $ Outstanding Principal $0 Total Paid = $ (Do not round until the final answer. Then round to the nearest cent as needed.)
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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A company borrowed $13,000 paying interest at 8% compounded semi-annually. If the loan is repaid by payments of
$2300 made at the end of each 6 months, construct a partial amortization schedule showing the last three payments,
the total paid, and the total interest paid.
Complete the table below for the last three payments.
(Do not round until the final answer. Then round to the nearest cent as needed.)
Payment
Number
Amount Paid Interest Paid Principal Repaid
$
$2300
$2300 4
$
Outstanding
Principal
50
Total Paid=$
(Do not round until the final answer. Then round to the nearest cent as needed.)
Submit test
Interest Paid=$
(Do not round until the final answer. Then round to the nearest cent as needed.)
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