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.)
:
The amortization formula: {{{A = P(r((1+r)^n)/((1+r)^n-1))}}}
P = 5000
r = .06;  (.12/2; compounded twice a year)
n = 12 no. of payments
:
 {{{A = 5000(.06((1+.06)^12)/((1+.06)^12-1))}}}
I'll let you do the math here with your calc
I got a payment of 
A = $596.39