Question: Can I please get help on this question. I've looked online at other people's answers to the original amount of the loan, they get $21,749.95
Can I please get help on this question. I've looked online at other people's answers to the original amount of the loan, they get $21,749.95 as an original value but I don't. I don't understand how they're getting that amount.
Question: A 20-year loan requires semi-annual payments of $1,333.28 including interest at 10.75% compounded semi-annually. What is the original amount of the loan and what will be the balance of the loan 8 years later (just after the scheduled payment)
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