11)The problem describes a debt to be amortized. (Round your answers to the nearest cent.) A man buys a house for $340,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 10 years. The interest rate on the debt is 12%, compounded semiannually.

(a) Find the size of each payment. $ (b) Find the total amount paid for the purchase. $ (c) Find the total interest paid over the life of the loan.

12)A debt of $9000 is to be amortized with 6 equal semiannual payments. If the interest rate is 7%, compounded semiannually, what is the size of each payment? (Round your answer to the nearest cent.)

13)A man buys a car for $32,000. If the interest rate on the loan is 12%, compounded monthly, and if he wants to make monthly payments of $600 for 36 months, how much must he put down? (Round your answer to the nearest cent.)

15)A recent graduate's student loans total $17,000. If these loans are at 4.6%, compounded quarterly, for 8 years, what are the quarterly payments? (Round your answer to the nearest cent.) $

16)John Fare purchased $24,000 worth of equipment by making a $4000 down payment and promising to pay the remainder of the cost in semiannual payments over the next 6 years. The interest rate on the debt is 6%, compounded semiannually. Find the following. (Round your answers to the nearest cent.) (a) the size of each payment

(b) the total amount paid over the life of the loan

(c) the total interest paid over the life of the loan

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The problem describes a debt to be amortized A man buys a house for 340000 He makes a 150000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 10 years T... View the full answer