math
posted by Haley
A $15,000 debt is to be amortized in 12 equal semiannual payments at an annual interest rate of 11% on the unpaid balance. Construct an amortization table to determine the unpaid balance after two payments have been made.

Reiny
first you need the monthly payment.
i = .11/12= .00916666..
n = 12
Paym (1  1.0091666..^12)/.009166.. = 15000
paym = 1325.72
Here are my titles to the amortization table ( they will not line up niceley)
Time  payment  interest  repayment  balance
now  0.00  0.00  0.00  15000.00
1  137.50  1188.22  13811.78
2  126.61  1199.11  12612.67
....
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