00:01
So we have an obligation that's due on january 1st or january 6th of 2021.
00:08
So that's going to be the accumulated value that is due.
00:12
So we're going to put that here as $15 ,600.
00:15
We want to know what the principal is.
00:17
What was the initial amount on july 15th of 2015? and we're going to have 1 plus my interest rate, which i'm going to put as 5 .5%.
00:28
And we're going to put that as 0 .05 .055.
00:32
And since it's semi -annually, my value of n is going to equal to two.
00:37
So we're going to put two here.
00:39
And then the question is, how many years is this? well, from 15 to 21, that's what we need to look at.
00:47
So i'm going to go from january.
00:48
This is until 2020.
00:53
That's going to be five years.
00:55
And then how much from july 15th to january? 6th of 2021.
01:02
So we need to know how many days that is so we can change that to a particular decimal.
01:07
So let me pause for a minute...