Semi-annual payments are to be made against a $97,500 loan at 7.5% compounded semi-annually with a 10-year amortization.
Posted: Thu Dec 23, 2021 9:01 am
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.
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.