You are to use the Texas Instrument BAII Plus calculator. (Ensure that your calculator is...
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Accounting
You are to use the Texas Instrument BAII Plus calculator. (Ensure that your calculator is set to 9 decimal places).
Do NOT use formulas.
A $41,000 mortgage was amortized over 6 years with monthly payments. The interest rate on the mortgage was set at 2.48% compounded semi-annually for the entire period.
a) What is the size of the monthly payment if they are rounded up to the nearest $100? _____________________. For example $2,315.74 = $2,400 $3,540.34 = $3,600
b) What is the size of the final payment? ________________.
Round your answer to 2 decimal places.
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