Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. a debt of $14 000.00 with interest at 6% compounde

A debt of $14 000.00 with interest at 6% compounded semi-annually is to be repaid...

70.2K

Verified Solution

Question

Basic Math

image

A debt of $14 000.00 with interest at 6% compounded semi-annually is to be repaid by equal payments of $1453 at the end of every three months for two years. a) What is the number of payments to amortize the debt? Round up to the nearest integer b) What is the outstanding principal after 6th payment?c) What is the interest paid on the 7th payment? d) How much principal is repaid in the 7th 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

Chemistry
1.2K views

What is the purpose of the experiements determining the dissociation constant of a weak acid using...

Physics
1.2K views

How can you tell if an object is charged? Explain using induction or conduction or friction.

Mechanical Engineering
1.2K views

Explain the difference between the terms peak and residual shear strength in relation to loose sands...

General Management
1.2K views

The accounting department needs to forecast the profit for a subsidiary. The data for several months...

Calculus
1.2K views

The equation r t 3t 1 i 81 6 j 4t k is the position...

Algebra
1.2K views

Choose the correct graph to represent the function f x x 3 1 A B...

Accounting
1.2K views

Implementing a sugar tax in Australia - Wicked problem? 1. Why is the case topic...

Accounting
1.2K views

Daniel and Emma form HP Enterprises, LLC a partnership designed to market and sell Harry...

Accounting
1.2K views

Respond to the following in a minimum of 175 words: Discuss how the IRS assesses...

Accounting
1.2K views

Question 6 4 pts Each section of the production report has two parts. They reconcile...

Accounting
1.2K views

\begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{\begin{tabular}{c} Splish Brothers Inc. \\ Comparative Balance Sheets \\ December 31 \end{tabular}} \\...

Finance
1.2K views

For short-term funding (less than a year), firms usually use all but which of the...