A debt of 8800 is to be amortized with 8 equal semiannual


A debt of $8800 is to be amortized with 8 equal semiannual payments of $1389.20. If the annual interest rate is 11% compounded semiannually, find the unpaid balance immediately after the 5th payment.

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Finance Basics: A debt of 8800 is to be amortized with 8 equal semiannual
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