Find unpaid balance immediately after fifth payment


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.

Solution Preview :

Prepared by a verified Expert
Finance Basics: Find unpaid balance immediately after fifth payment
Reference No:- TGS0675940

Now Priced at $5 (50% Discount)

Recommended (98%)

Rated (4.3/5)