Posted by kristi on Monday, May 2, 2011 at 9:58pm.
adebt of $6000 is to be amortized with 8 equal semiannual payments. If the interest rate is 5%, compounded semiannually, what is the size of each payment

math  Reiny, Monday, May 2, 2011 at 10:25pm
solve for P , the payment
6000 = P(1  1.025^8)/.025