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A $23,540 loan is to be settled by making payments of $6,894 at the end of every three months. The interest is 7.73% compounded semi-annually.
A $23,540 loan is to be settled by making payments of $6,894 at the end of every three months. The interest is 7.73% compounded semi-annually. a) Find the number of payments in the term. b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Payment Number Payment Amount($) PMT Interest Portion ($) INT Principal Portion Loan Balance ($) ($) PRN BAL 0 $23,540 1 $ $ N HA $ LA 3 3 $ 4 HA $ $
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