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A debt of $31,000 is repaid over 15 years with payments occuring quarterly. Interest is 8% compounded semi-annually. A) What is the size of the
A debt of $31,000 is repaid over 15 years with payments occuring quarterly. Interest is 8% compounded semi-annually.
A debt of $31,000 is repaid over 15 years with payments occurring quarterly. Interest is 8% compounded semi-annually. (a) What is the size of the periodic payment? (b) What is the outstanding principal after payment 36 ? (c) What is the interest paid on payment 37 ? (d) How much principal is repaid in payment 37 ? (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The outstanding principal is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The interest paid is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The principal repaid is $ A) What is the size of the periodic payment?
B) What is the outstanding payment after payment 36?
C) What is the interest paid on payment 37?
D) How much principal is repaid in payment 37?
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