Nine  years  from  now,  Sam  wants  to  have  an  amount  available  to  deposit  into  an  account  that  earns  6  percent compounded annually.  This account is to provide Sam with an income of $10,000 at the end of each year for 10 years.  To accomplish this, Sam invests in an 8-year bank certificate that pays 8 percent compounded semiannually, and he will use this certificate, plus interest , to establish his income account.  What should be the principle value of the certificate be ? please solve these math details and do not be use any software

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Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.