Question: Problem describe a debt to be amortized. In each problem, find;
(a) the size of each payment.
(b) the total amount paid over the life of the loan.
(c) the total interest paid over the life of the loan.
A woman buys an apartment house for $1,250,000 by making a down payment of $250,000 and amortizing the rest of the debt with semiannual payments over the next 10 years. The interest rate on the debt is 8%, compounded semiannually.