document.write( "Question 1195221: In return for a loan, with money worth 7% compounded semiannually, a man promises to pay $600 at the end of each 6 months for 8 years. (b) Find his remaining liability just after his 6th payment. \n" ); document.write( "
Algebra.Com's Answer #827673 by Theo(13342)\"\" \"About 
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i used the ti-ba-ii calculator to solve this.
\n" ); document.write( "inputs were:
\n" ); document.write( "present value = 0
\n" ); document.write( "future value = 0
\n" ); document.write( "interest rate = 7%/2 = 3.5%
\n" ); document.write( "number of time periods = 8 * 2 = 16 minus 6 = 10 remaining time periods after the 6th payment was made.
\n" ); document.write( "payments = -600
\n" ); document.write( "payments are made at the end of each time period.
\n" ); document.write( "output was present value = 4,989.96 rounded to the nearest penny.
\n" ); document.write( "that's what the remaining liability was after 6 payments were made.
\n" ); document.write( "you can duplicated the results with the use of the online calculator at /
\n" ); document.write( "results are shown below:
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\n" ); document.write( "let me know if you have any questions.
\n" ); document.write( "theo\r
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