document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1139561>Question 1139561</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Engr. Como decided to buy a townhouse amounting to 5 Million if paid today. He is been told that he is to pay this at the rate of 6% compounded semi-annually. If he is to pay 200k every six months. How long it will take for him to pay the townhouse fully if payments are made at the beginning of the month? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #760059 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=760059\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> i used the following financial calculator to get your answer.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<a  rel=nofollow HREF= \"https://arachnoid.com/finance/\" target = \"_blank\">arachnoid financial calculator</a>\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "here's a display of the results.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2019/042222.jpg\" alt=\"%%%\" >\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "my inputs to this calculator were:\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "present value = 5,000,000<BR>\n" );
document.write( "future value = 0<BR>\n" );
document.write( "payment equals 200,000 at the beginning of each semi-annual period.<BR>\n" );
document.write( "interest rate = 6% per year / 2 = 3% per semi-annual period.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "i clicked on NP and the calculator told me that the number of months required to satisfy the loan was 44.07 months.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "i did the same analysis using the Texas Instruments Business Analyst II and the result was 44.06553647 months.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "the business analyst II doesn't round as much as the online calculator.<BR>\n" );
document.write( "the results are comparable and the same if you round your answer to two decimal digits.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );