Question
An auto repair shop borrowed $14,000 to be repaid by semi-annual payments over 7 years. Interest on the loan is 6% compounded semi-annually. (a) What
An auto repair shop borrowed $14,000 to be repaid by semi-annual payments over 7 years. Interest on the loan is 6% compounded semi-annually.
(a) What is the size of the periodic payment?
(b) What is the outstanding principal after payment 8?
(c) What is the interest paid on payment 9?
(d) How much principal is repaid in payment 9?
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Regulation A+ How The JOBS Act Creates Opportunities For Entrepreneurs And Investors
Authors: Paul Getty , Dinesh Gupta , Robert R. Kaplan
1st Edition
1430257318,1430257326
