Justine purchased computer software for $5,200. With a down payment of $1000 finance the balance at 12% for 6 years. Find the semiannual payments.

Question

Mathematics

Javon Cook

14 December, 16:28

Justine purchased computer software for $5,200. With a down payment of $1000 finance the balance at 12% for 6 years. Find the semiannual payments.

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Answers (1)

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Van · Answer 1

662$

Step-by-step explanation:

Total payment = 5200 + (12%*5200$*6) = 8944$

remaining payment = 8944-1000 = 7944$

To get semi annual payment:

6 years*2 = 12 installments

semi annual payment = remaining/no. of installments=7944:12 = 662$