Metro Construction received $60,000 in vendor financing at 6.5% compounded semiannually for the purchase of a loader.
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Metro Construction received $60,000 in vendor financing at 6.5% compounded semiannually for the purchase of a loader. The contract requires semiannual payments of $7500 until the debt is paid off. Construct the complete amortization schedule for the debt. How much total interest will be paid over the life of the Joan?
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Given PV 60000 i 652 325 PMT 7500 Payment Interest Principal Principal number Payment p...View the full answer
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Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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