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The question asks: If a corporation takes out a loan of $88,000 with semi-annual interest payments for 7 years at j2, and plans to repay
The question asks: If a corporation takes out a loan of $88,000 with semi-annual interest payments for 7 years at j2, and plans to repay the loan in full at the end of 7 years while also making semi-annual deposits of $5,150.32 into a sinking fund and incurring a semi-annual cost of $9,110.32, what would the semi-annual payment be if the corporation chose to pay off the loan using the amortization method, assuming the interest rate remains the same at j2? A. $9,231.00 B. $8,990.61 C. $8,608.19 D. $7,790.32
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