The total amount paid on a 5 year loan was $16,000. If the interest rate was 7% and compounded semi-annually, what was the princ
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<span>1) Multiply both sides of the equation by 2:
2(A)=2[1/2h(b+c)
2A=2/2h(b+c)
2A=1h(b+c)
2A=h(b+c)
2) Divide both sides of the equation by (b+c):
(2A)/(b+c)=[h(b+c)]/(b+c)
2A/(b+c)=h
h=2A/(b+c)
Answer: </span>
2(A)=2[1/2h(b+c)
2A=2/2h(b+c)
2A=1h(b+c)
2A=h(b+c)
2) Divide both sides of the equation by (b+c):
(2A)/(b+c)=[h(b+c)]/(b+c)
2A/(b+c)=h
h=2A/(b+c)
Answer: </span>