What is the size of the periodic? payment

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Reference no: EM132775133

Question - A loan of ?$13,000 with interest at 11?% compounded semi-annually is repaid in 10 years by equal payments made at the end of each 1 month.

Required -

?(a) What is the size of the periodic? payment?

?(b) Construct an amortization schedule showing the details of the last three payments.

?(c) What is the total paid and the total? interest?

Reference no: EM132775133

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