Question 1195221
i used the ti-ba-ii calculator to solve this.
inputs were:
present value = 0
future value = 0
interest rate = 7%/2 = 3.5%
number of time periods = 8 * 2 = 16 minus 6 = 10 remaining time periods after the 6th payment was made.
payments = -600
payments are made at the end of each time period.
output was present value = 4,989.96 rounded to the nearest penny.
that's what the remaining liability was after 6 payments were made.
you can duplicated the results with the use of the online calculator at <a href = "/" target = "_blank">/</a>
results are shown below:
<img src = "http://theo.x10hosting.com/2022/062801.jpg">
let me know if you have any questions.
theo