For Question 10, calculate the interest included in the fifth payment. Verify your answer by checking the
Question:
In Question 10
Pinto Brothers are repaying a loan of $14 500 by making payments of $2600 at the end of every six months. If interest is 7% compounded semi-annually, construct an amortization schedule showing the total paid and the total cost of the loan.
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PV n 14 50000 PMT 260000 i 35 Use the retrospective method Accumulated value of pr...View the full answer
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Related Book For 
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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