A loan of $30,000 is to be paid back with semi-annual payments over 10 years at...

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A loan of $30,000 is to be paid back with semi-annual payments over 10 years at (²) = 8%. The first payment is R and each succeeding payment increases by 12%. Set up an amortization table. Graph the resulting outstanding balances (using a column graph). Make sure your x-axis goes from 0 to 20. A loan of $30,000 is to be paid back with semi-annual payments over 10 years at (²) = 8%. The first payment is R and each succeeding payment increases by 12%. Set up an amortization table. Graph the resulting outstanding balances (using a column graph). Make sure your x-axis goes from 0 to 20.

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The problem describes a loan of 30000 to be repaid with semiannual payments over 10 years at an effective semiannual interest rate i2 of 8 where each ... View the full answer