Question

A debt of $14,300

with interest at 8 %

compounded semi-annually

is repaid by payments of $2,100

made at the end of every 3 months.

Construct an amortization schedule showing the total paid and the total cost of the debt.

Complete the amortization schedule. (Round to the nearest cent as needed.)

Payment Number	Amount Paid	Interest Paid	Principal Repaid	Outstanding Principal Balance
0				$14,300
1	$2,100	$	$	$

Answer 1