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A debt of 4,400 with interest at 2.5% payable semi-annually or .0125, will be discharged by payments of 600.00 at the end of each 7
A debt of 4,400 with interest at 2.5% payable semi-annually or .0125, will be discharged by payments of 600.00 at the end of each 7 periods as long as necessary, with a final smaller payment 7 periods after the last 600 is paid due to COVID-19.
1. How much will be the final payment after the last period? show the solution.
2. Show the solution on how to get the payment 600.
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