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Rola Inc. borrowed 542 000.00 at 7% compounded semi-annually. The loan is repaid by payments of $4700.00 due at the end of every six months.

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Rola Inc. borrowed 542 000.00 at 7% compounded semi-annually. The loan is repaid by payments of $4700.00 due at the end of every six months. a) How many payments are needed? b) How much of the principal will be repaid by the 6th payment? c) Prepare a partial amortization schedule showing the details of the last two payments and totals

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