Givens, Hong, and Partners obtained a $7200 term loan at 8.7% compounded annually for new boardroom furniture. Prepare a complete amortization schedule in which the loan is repaid by equal semiannual payments over three years. (Round your answers to the nearest cent. Do not round the intermediate calculations.) | |
Payment | Interest | Principal | Principal | ||||||||||
number | Payment $ | portion $ | portion $ | balance $ | |||||||||
0 | -- | -- | -- | 7200.00 | |||||||||
1 | |||||||||||||
2 | |||||||||||||
3 | |||||||||||||
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6 | |||||||||||||
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