Question
A debt of $45000 is repaid over 15 years with a semi annual payments. Interest is 9% compounded monthly. What is the size of the
A debt of $45000 is repaid over 15 years with a semi annual payments. Interest is 9% compounded monthly.
What is the size of the periodic payments?
What is the outstanding principal after the 10th payment?
What is the interest by the 11th payment?
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
