A debt of $9000 is to be amortized with 4 equal semiannual payments. If the interest...
A debt of $9000 is to be amortized with 4 equal semiannual payments. If the interest rate is 10%, compounded semiannually, what is the size of each payment? (Round your answer to the nearest cent.)
Homework Answers
Instalmment = Loan / PVAF (r%, n)
Where r is int rate per six months & n is no. of half years
= $ 9000 / PVAF (5% , 4)
= $ 9000/ 3.5460
= $ 2538.11
Pls comment, if aany further assistance is required.
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