1. What payment is required at the end of every six months for 3 years...

60.1K

Verified Solution

Question

Finance

1. What payment is required at the end of every six months for 3 years to repay a loan of $3916.00 at 10% compounded semi-annually?

2. Katrina bought a car priced at $8743 for 8% down and equal semi- annual payments for 4 years. If interest is 12% compounded quarterly what is the size of the semi-annual payment?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students