A company borrowed $17,000 paying interest at 3% compounded semi-annually. If the loan is repaid by payments of $1900 made at the end of each 6 months, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number Outstanding Interest Paid Principal Repaid Principal Amount Paid 8 $1900 $1900 10 $0 Total Paid = S (Do not round until the final answer. Then round to the nearest cent as needed.) Interest Paid = $ (Do not round until the final answer Then round to the nearest cent as needed) %24

Question
A company borrowed $17,000 paying interest at 3% compounded semi-annually. If the loan is repaid by
payments of $1900 made at the end of each 6 months, construct a partial amortization schedule showing the last
three payments, the total paid, and the total interest paid.
Complete the table below for the last three payments.
(Do not round until the final answer. Then round to the nearest cent as needed.)
Payment
Number
Outstanding
Interest Paid Principal Repaid Principal
Amount Paid
8
$1900
$1900
10
$0
Total Paid = S
(Do not round until the final answer. Then round to the nearest cent as needed.)
Interest Paid = $
(Do not round until the final answer Then round to the nearest cent as needed)
%24
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Transcribed Image Text

A company borrowed $17,000 paying interest at 3% compounded semi-annually. If the loan is repaid by payments of $1900 made at the end of each 6 months, construct a partial amortization schedule showing the last three payments, the total paid, and the total interest paid. Complete the table below for the last three payments. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number Outstanding Interest Paid Principal Repaid Principal Amount Paid 8 $1900 $1900 10 $0 Total Paid = S (Do not round until the final answer. Then round to the nearest cent as needed.) Interest Paid = $ (Do not round until the final answer Then round to the nearest cent as needed) %24

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