Question

A $15,000 debt is to be amortized in 12 equal semiannual payments at an annual interest rate of 11% on the unpaid balance. Construct an amortization table to determine the unpaid balance after two payments have been made.

Answer 1

first you need the monthly payment.
i = .11/12= .00916666..
n = 12

Paym (1 - 1.0091666..^-12)/.009166.. = 15000
paym = 1325.72

Here are my titles to the amortization table ( they will not line up niceley)
Time - payment - interest - repayment - balance

now -- 0.00 -- 0.00 -- 0.00 -- 15000.00
1 -- 137.50 -- 1188.22 -- 13811.78
2 -- 126.61 -- 1199.11 -- 12612.67
....