document.write( "Question 1088030: A debt of $5000 is to be amortized with 12 equal semiannual payments. If the interest rate is 12%, compounded semiannually, what is the size of each payment? (Round your answer to the nearest cent.)
\n" ); document.write( "How much $ ? \n" ); document.write( "

Algebra.Com's Answer #702309 by ankor@dixie-net.com(22740) $\"\"$ $\"About$

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A debt of $5000 is to be amortized with 12 equal semiannual payments.
\n" ); document.write( " If the interest rate is 12%, compounded semiannually, what is the size of each payment? (Round your answer to the nearest cent.)
\n" ); document.write( ":
\n" ); document.write( "The amortization formula: $\"A+=+P%28r%28%281%2Br%29%5En%29%2F%28%281%2Br%29%5En-1%29%29\"$
\n" ); document.write( "P = 5000
\n" ); document.write( "r = .06; (.12/2; compounded twice a year)
\n" ); document.write( "n = 12 no. of payments
\n" ); document.write( ":
\n" ); document.write( " $\"A+=+5000%28.06%28%281%2B.06%29%5E12%29%2F%28%281%2B.06%29%5E12-1%29%29\"$
\n" ); document.write( "I'll let you do the math here with your calc
\n" ); document.write( "I got a payment of
\n" ); document.write( "A = $596.39 \n" ); document.write( "

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