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Cameron received a loan of $22,000 at 5.5% compounded semi-annually. She had to make payments at the end of every half-year for a period of
Cameron received a loan of $22,000 at 5.5% compounded semi-annually. She had to make payments at the end of every half-year for a period of 5 years to settle the loan. a. Calculate the size of payments. 11,455.80 Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Number Payment Interest Portion Principal Portion Principal Balance 0 $22,000.00 $0.00 $0.00 $0.00 1 1 $0.00 $0.00 2 .. 0 $0.00 $0.00 0 $0.00 0.00 Total
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