Question: What semi-annual payment for 5 years will pay off a loan of $5000 with interest at j4 = 13%, if the first payment is made
What semi-annual payment for 5 years will pay off a loan of $5000 with interest at j4 = 13%, if the first payment is made 6 months from now?
Step by Step Solution
★★★★★
3.49 Rating (156 Votes )
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
PMT PMT PMT 5000 0065 10065 10 10065... View full answer
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
