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Interactive Computer Company signed a 10-year, 5.50%, $900,000 mortgage on June 30, 2021, to help finance a new repair center. The mortgage terms provide for
Interactive Computer Company signed a 10-year, 5.50%, $900,000 mortgage on June 30, 2021, to help finance a new repair center. The mortgage terms provide for semi-annual payments of $59,105. Payments are due on December 31 and June 30. The companys year end is June 30.
Prepare an instalment payment schedule for the first two years. (Round answers to the nearest whole dollar, e.g. 5,275.)
Please show calculation for each answer given.
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