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1. You want to buy a new house which is sold for TL 300000 cash. The seller offers you chance to make half of the
1. You want to buy a new house which is sold for TL 300000 cash. The seller offers you chance to make half of the payment now and the other half in four annual installments with an interest rate of 10%. Compute the amount of each payment. Fill in the amortization table below. (Use the factors below to calculate the payment. Show all your calculations. Do not use the equal payment formula.) Period Payment Interest Payment Principal Payment Remaining Debt Interest rate Factors: FV of Annuity 10%; 4 = 4.6410 PV of Annuity 10%; 4 = 3.1699 PV 10%; 4= 0.6830 FV 10%; 4 = 1.4641
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