Solution-What is the amount of the last four payments

What is the amount of the last four payments

Reference no: EM131207264

A debt of 100,000 with an interest rate of 15% per month is to be discharged by a series of 20 semi-annual payments. The first payment to be made 6 months after consummation of the loan. The first 6 payments will be 5,000 each, the 7th to 16th payment will be 6,000 each, and the remaining 4 equal payments will liquidate the debt. What is the amount of the last four payments?

Reference no: EM131207264

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What is the amount of the last four payments : The first payment to be made 6 months after consummation of the loan. The first 6 payments will be 5,000 each, the 7th to 16th payment will be 6,000 each, and the remaining 4 equal payments will liquidate the debt. What is the amount of the last f..

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What is the amount of the last four payments

Reference no: EM131207264

Reference no: EM131207264

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