document.write( "Question 1195215: 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 #829535 by MathTherapy(10552)\"\" \"About 
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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.
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One needs to calculate the Present Value (PVoa) of an annuity with a semi-annual (2) payment of $600, an annual interest rate of 7% (.07),\r\n" );
document.write( "and a remaining term of 5 years (8 years - 3 years, or 6 semi-annual payments).\r\n" );
document.write( "    So, we have: \r\n" );
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document.write( "Using the latter, we get: \r\n" );
document.write( "Remaining balance after 6 semi-annual payments/3 years, or \r\n" );
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