Question
A loan of $80,000 is to be amortized, with a 15-year term, with semi annual payments at an interest rate of 8% compounded annually. Calculate
A loan of $80,000 is to be amortized, with a 15-year term, with semi
annual payments at an interest rate of 8% compounded annually.
Calculate the interest and the principal components of the 12th
payment. ( I need steps and equations. Clearly please)
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Fundamentals Of Actuarial Mathematics
Authors: S David Promislow
3rd Edition
1118782496, 9781118782491
