A debt of $8,800 is to be amortized with 8 equal semiannual payments of $1,417.12. If the annual interest rate is 12% compounded semiannually, find the unpaid balance immediately after the 5th payment. Round your answer to the nearest cent.
?

A. $227.28
B. $3,787.98
C. $140,155.21
D. $6,968.44
E. $9,638.81

Answer: B

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A debt of $8,800 is to be amortized with 8 equal semiannual payments of $1,417.12. If the annual interest rate is 12% compounded semiannually, find the unpaid balance immediately after the 5th payment. Round your answer to the nearest cent. ?

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A debt of $8,800 is to be amortized with 8 equal semiannual payments of $1,417.12. If the annual interest rate is 12% compounded semiannually, find the unpaid balance immediately after the 5th payment. Round your answer to the nearest cent.
?