Metro Construction received $60,000 in vendor financing at 6.5% compounded semi-annually for the purchase of a loader. The contract requires semi-annual payments of $7,500 until the debt is paid off. Construct the complete amortization schedule for the debt. How much total interest will be paid over the life of the loan?

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The Answer of Metro Construction received $60,000 in vendor financing at 6.5% compounded semi-annually for the purchase of a loader. The contract requires semi-annual payments of $7,500 until the debt is paid off. Construct the complete amortization schedule for the debt. How much total interest will be paid over the life of the loan?

Metro Construction Received $60,000 in Vendor Financing at 6