A 20-year loan requires semiannual payments of $808.15 including interest at 3.8% com-pounded semiannually. a. What was

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A 20-year loan requires semiannual payments of $808.15 including interest at 3.8% com-pounded semiannually.

a. What was the original amount of the loan?

b. What is the loan's balance 81 years later (just after the scheduled payment)?

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Fundamentals Of Business Mathematics In Canada

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Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 21, 2020 05:04 AM

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A 20-year loan requires semiannual payments of $808.15 including interest at 3.8% com-pounded semiannually. a. What was

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Fundamentals Of Business Mathematics In Canada

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