today and $515 in 10 months at 2.95% interest compounded semi-annually. Due to insufficient funds, the payments are refinanced. A first payment of $125 will be made in 8 months and a final payment in 18 months. What is the size of the final payment? Use the partial timeline below to help you. State your answer in dollars ($) with two decimal places. today $350 Answor 8 mo $125 10 mo $515 18 mo X O

today and $515 in 10 months at 2.95% interest compounded semi-annually. Due to insufficient funds, the payments are refinanced. A first payment of $125 will be made in 8 months and a final payment in 18 months. What is the size of the final payment? Use the partial timeline below to help you. State your answer in dollars ($) with two decimal places. today $350 Answor 8 mo $125 10 mo $515 18 mo X O

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section4.17: Amortized Loans

Problem 1ST

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A loan of $5,000 with interest at 7.75% compounded annually is amortized by equal payments at the end of each year for five years. 1. Show your financial calculator inputs for the payment calculation. 2. Create a full amortization schedule for the loan. A template is available in the Test folder (underneath the link to our test. You can fill in the Word file template and attach below,
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