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(1 point) (Exercise 5.28 ) A borrows $5500 for 8 years at 9% convertible quarterly. A does not pay interest currently and will pay all

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(1 point) (Exercise 5.28 ) A borrows $5500 for 8 years at 9% convertible quarterly. A does not pay interest currently and will pay all accrued interest at the end of 8 years together with the principal. Find the annual sinking fund deposit necessary to liquidate the loan at the end of 8 years if the sinking fund earns 7% convertible semiannually. ANSWER =$

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