The debt is amortized by the periodic payment shown. Compute (a) the number of payments required to amortize the debt; (b) the outstanding principal at the time indicated. Debt Principal Debt Payment Payment Interval Interest Rate Conversion Period Outstanding Principal After: $16,000 $1,128 1 month 5% semi-annually 7th payment (a) The number of payments required to amortize the debt is nothing. (Round up to the nearest integer.) (b) The outstanding principal is $nothing. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
The debt is amortized by the periodic payment shown. Compute (a) the number of payments required to amortize the debt; (b) the outstanding principal at the time indicated. Debt Principal Debt Payment Payment Interval Interest Rate Conversion Period Outstanding Principal After: $16,000 $1,128 1 month 5% semi-annually 7th payment (a) The number of payments required to amortize the debt is nothing. (Round up to the nearest integer.) (b) The outstanding principal is $nothing. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places 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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The debt is amortized by the periodic payment shown. Compute (a) the number of payments required to amortize the debt; (b) the outstanding principal at the time indicated.
|
Debt Principal |
Debt Payment |
Payment Interval |
Interest Rate |
Conversion Period |
Outstanding Principal After: |
|
|
$16,000 |
$1,128 |
1 month |
5% |
semi-annually |
7th payment |
(a) The number of payments required to amortize the debt is
nothing.
(Round up to the nearest integer.)
(b) The outstanding principal is
$nothing.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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