The debt is amortized by equal payments made at the end of each payment interval. Compute...
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The debt is amortized by equal payments made at the end of each payment interval. Compute (a) the size of the periodic payments; (b) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated for finding the outstanding principal; and (d) the principal repaid by the same payment as in part c. Payment Interval Debt Principal $12,000.00 Repayment Period Interest Rate Conversion Period 10 years 6 months 9% monthly Outstanding Principal After: 4th payment (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The outstanding principal after the 4th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The interest paid by the 5th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The principal repaid by the 5th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 8 Time Remaining: 01:49:31 Next The debt is amortized by equal payments made at the end of each payment interval. Compute (a) the size of the periodic payments; (b) the outstanding principal at the time indicated; (c) the interest paid by the payment following the time indicated for finding the outstanding principal; and (d) the principal repaid by the same payment as in part c. Payment Interval Debt Principal $12,000.00 Repayment Period Interest Rate Conversion Period 10 years 6 months 9% monthly Outstanding Principal After: 4th payment (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The outstanding principal after the 4th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The interest paid by the 5th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The principal repaid by the 5th payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) 8 Time Remaining: 01:49:31 Next
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Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Posted Date:
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