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 TTTTT Interest Paid Principal Repaid Outstanding Principal Amount Paid 8 $1900 $1900 10 $0 Total Paid = $ (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)

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 TTTTT Interest Paid Principal Repaid Outstanding Principal Amount Paid 8 $1900 $1900 10 $0 Total Paid = $ (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)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 17P

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