Which table shows a correct amortization schedule for the loan described?
$47,000 for years at an annual rate of 10% compounded semiannually

Question

Which table shows a correct amortization schedule for the loan described? ​
$47,000 for  years at an annual rate of 10% compounded semiannually

Quizplus · Accepted Answer

The correct amortization schedule for the loan described can be determined by using the formula A = P(1 + r/n)^(nt), where A is the total amount paid, P is the principal or loan amount, r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the total number of years. Using these values, the correct amortization schedule can be calculated, and the table in choice C matches the calculated schedule.

Which Table Shows a Correct Amortization Schedule for the Loan