A 20-year loan requires semi-annual payments of $1,037.33 including interest at 6.8% compounded semi-annually.
a) What was the original amount of the loan?
b) What will be the loan's balance 8½ years later (just after the scheduled payment)?

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The Answer of A 20-year loan requires semi-annual payments of $1,037.33 including interest at 6.8% compounded semi-annually.
a) What was the original amount of the loan?
b) What will be the loan's balance 8½ years later (just after the scheduled payment)?

A 20-Year Loan Requires Semi-Annual Payments of $1,037