Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please solve (b) part of this question Question 3 of 4 Catherine received a loan of $23,000 at 6.5% compounded semi-annually. She had to make
please solve (b) part of this question
Question 3 of 4 Catherine received a loan of $23,000 at 6.5% compounded semi-annually. She had to make payments at the end of every half-year for a period of 7 years to settle the loan. a. Calculate the size of payments. 35,990.57 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 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 $23,000.00 $0.00 $0.00 $0.00 $0.00 1 $0.00 $0.00 $0.00 $0.00 2 E Question 3 of 4 : .. 0 $0.00 $0.00 $0.00 $0.00 0 $0.00 $0.00 $0.00 0.00 $0.00 $0.00 0 TotalStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started