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; and (d) the principal repaid by the payment following the time indicated for finding the outstanding principal.
Debt Principal |
Repayment Period |
Payment Interval |
Interest Rate |
Conversion Period |
Outstanding Principal After: |
|
$14,000 |
6 years |
6 months |
10% |
semi-annually |
7th payment |
(a) The size of the periodic payment is
$nothing.
(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
7th
payment is
$nothing.
(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
8th
payment is
$nothing.
(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
8th
payment is
$nothing.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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The debt is amortized by equal payments made at the end of each payment interval. Compute...
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