A debt of $14 000.00 with interest at 6% compounded semi-annually is to be repaid by equal payments of $1453 at the end of every

Question

A debt of $14 000.00 with interest at 6% compounded semi-annually is to be repaid by equal payments of $1453 at the end of every three months for two years. 
a) What is the number of payments to amortize the debt? Round up to the nearest integer 
b) What is the outstanding principal after 6th payment?
c) What is the interest paid on the 7th payment? 
d) How much principal is repaid in the 7th payment?

Kunduz · Accepted Answer

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