A 20-year loan requires semiannual payments of $1037.33 including interest at 6.8% compounded semiannually. a. What was

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A 20-year loan requires semiannual payments of $1037.33 including interest at 6.8% compounded semiannually.
a. What was the original amount of the loan?
b. What is the loan’s balance 8 1/2 years later (just after the scheduled payment)?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Sep 21, 2024 08:02 AM

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A 20-year loan requires semiannual payments of $1037.33 including interest at 6.8% compounded semiannually. a. What was

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Business Mathematics In Canada

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