Interest and Semiannual Payments : A company borrows $75,000 which is to be repaid with equal payments semiannually for 10 years. The interest rate is 10%. Find the semiannual payments.
Not what you're looking for?
A company borrows $75,000 which is to be repaid with equal payments semiannually for 10 years. The interest rate is 10%. Find the semiannual payments.
A. $3,750.00
B. $6,018.19
C. $4,125.00
D. $5,834.22
Purchase this Solution
Solution Summary
Semi-annual payments are found.
Solution Preview
The answer is B
Suppose the semiannual payment is x. The interest rate every half year is 0.1/2=0.05. The current balance is ...
Purchase this Solution
Free BrainMass Quizzes
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Managing the Older Worker
This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce
Business Processes
This quiz is intended to help business students better understand business processes, including those related to manufacturing and marketing. The questions focus on terms used to describe business processes and marketing activities.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.