Question: this is wrong answer please provide me right answer. thankyou Question 3 of 4 Catherine received a loan of $23,000 at 6.5% compounded semi-annually. She

 this is wrong answer please provide me right answer. thankyou Question

3 of 4 Catherine received a loan of $23,000 at 6.5% compounded

semi-annually. She had to make payments at the end of every half-year

this is wrong answer please provide me right answer. thankyou

Question 3 of 4 Catherine received a loan of $23,000 at 6.5% compounded semi-annually. She had to make payments at the end of every half-year for a period of 7 years to settle the loan. a. Calculate the size of payments. 35,990.57 Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. 1. Question 3 of 4 b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places. Payment Interest Portion Payment Number Principal Portion Principal Balance 0 $23,000.00 $5,103.27 $2,987.40 $2,115.87 $20.884.13 1 x X $5,103.26 $2.682.30 $2,420.96 $18.463.17 2. > Question 3 of 4 .. :: 6 $5,103.26 $953.85 $4,149.41 $4,747.74 x X 7 $5,103.26 $355.53 $4,747.74 0.00 X $35,722.83 $12,772.85 30,000.01 Total

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!