Loan of $20000 with interest at j2 = 10%, is to be amortized by equal payments...

Loan of $20000 with interest at j₂ = 10%, is to be amortized by equal payments at the end of each 6 months over a period of 20 half-years. Using the Retrospective Method, Determine the outstanding balance at the end of 12 half-years.

choose

25549.22

10374.36

10367.9

Expert Solution

The outstanding balance at the end of 12 half-years is 10374.36

See the amortization table for calculations

Screenshot with formulas

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jeff jeffy answered 2 years ago

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