Mathematics, 13.11.2020 03:50 cameronkoberste
John Fare purchased $6,000 worth of equipment by making a $1000 down payment and promising to pay the remainder of the cost in semiannual payments over the next 5 years. The interest rate on the debt is 6%, compounded semiannually. Find the following. (Round your answers to the nearest cent.)
(a) the size of each payment
$
586.15
Correct: Your answer is correct.
(b) the total amount paid over the life of the loan
$
(c) the total interest paid over the life of the loan
$
Answers: 3
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John Fare purchased $6,000 worth of equipment by making a $1000 down payment and promising to pay th...
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