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majarm majarm
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6 years ago
Rola Inc. borrowed $42 000.00 at 7% compounded semi-annually. The loan is repaid by payments of $4700.00 due at the end of every six months.
a) How many payments are needed?
b) How much of the principal will be repaid by the 6th payment?
c) Prepare a partial amortization schedule showing the details of the last three payments and totals.
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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6 years ago
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4 years ago
thankyou
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