determine the semi-annual payment on a 6 year loan of $19,264 at 7.2% compounded semi-annually. Round you answer to the nearest cent
PMT = PV x R {[ 1 + R]^N / [1 + R]^N - 1}
PMT =19,264 x 0.072/2{[1 + 0.072/2]^(6*2) / [1 + 0.072/2]^(6*2] - 1}
PMT = 693.504 x 2.8914973......
PMT = $2,005.26
