Semi-annual payments are to be made against a $97,500 loan at 7.5% compounded semi-annually with a 10-year amortization.

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answerhappygod
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Semi-annual payments are to be made against a $97,500 loan at 7.5% compounded semi-annually with a 10-year amortization.

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Semi-annual payments are to be made against a $97,500 loan at
7.5% compounded semi-annually with a 10-year
amortization.
a. What is the amount of the final payment?
b. Calculate the principal and interest portions of the payments
in the final two years.
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