To start their business, Ming and Ling borrowed $24 000 to be repaid by semi- annual payments
Question:
(a) What is the size of the periodic payment?
(b) What is the outstanding principal after the seventh payment?
(c) What is the interest paid in the eighth payment?
(d) How much principal is repaid in the eighth payment?
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a PV n 24 00000 i 35 n 24 24 00000 16058368 PMT PMT 149455 Set PY 2 CY 2 24 000 PV 7 IY 24 N ...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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