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Question 5 Not yet answered Marked out of 1.00 A debt of $57,000 is repaid over 25 years with monthly payments (at the end of
Question 5 Not yet answered Marked out of 1.00 A debt of $57,000 is repaid over 25 years with monthly payments (at the end of every month). Interest is 4.5% compounded semi-annually. Do not include the dollar sign, $, in your answers. Do not include the comma usually used to denote thousands. a.) What is the size of the periodic payment? Use the BAll Plus - Set decimals = 2 Payment = P Flag question When you use the AMORT function on the BAll+ you must have your calculator set to exactly 2 decimals! b.) What is the outstanding principal after the 119th payment? AMORT P1 = 119: P2 = 119 BAL = c.) What is the interest paid in the 120th payment? AMORT P1 = 120: P2 = 120 INT = d.) What is the principal repaid in the 120th payment? PRN =
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