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Lada Lada
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6 years ago
A contractor's price for a new building was $85 100.00. Stampede Inc., the buyers of the building, paid $14 000.00 down and financed the balance by making equal payments at the end of every six months for 14 years. Interest is 12% compounded semi-annually.
a) What is the size of the semi-annual payment?
b) How much will Stampede Inc. owe after 6 years?
c) What is the total cost of the building for Stampede Inc.?
d) What is the total interest included in the payments?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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SupremeSupreme
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