A debt of ​$13,700 with interest at 5​% compounded semi-annually is repaid by payments of $1,950 made at the end of every 3 months. Construct an amortization schedule showing the total paid and the total cost of the debt.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
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Q)A debt of ​$13,700 with interest at 5​% compounded semi-annually is repaid by payments of $1,950 made at the end of every 3 months. Construct an amortization schedule showing the total paid and the total cost of the debt.

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