Author Question: Find the amortization payment you would need to make every six months, at 6 interest compounded ... (Read 73 times)

jhjkgdfhk · **on:** Jun 24, 2018

Find the amortization payment you would need to make every six months, at 6 interest compounded semiannually, to pay off a loan of 4,000 in 6 years. (Use Table 12-2 from text)
A) 767.41
B) 813.45
C) 390.14
D) 401.85

Question 2

What amortization payment would you need to make each year, at 14 interest compounded semiannually, to pay off a loan of 24,000 in 4 years? (Use Table 12-2 from your text)
A) 5,000.00
B) 4,086.45
C) 4,019.23
D) 954.22