Answer to Question #270846 in Financial Math for Kikay

Question

a debt pf 120 000 is to amortized by equal payments at the end of every quarter for 2 years if the interest charged is 12% compounded semi annually find the outstanding principal after each payment is made construct an amortization schedule

Answer 1

Debt is the desired amount of money borrowed by an individual or an entity through any financial institution to an entity at the desired interest rate to be paid off in a given period of time.

amortization schedule;