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10 Jeff Associates borrowed $36,000. The company plans to set up a sinking fund that will repay the loan at the end of 8 years.

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10 Jeff Associates borrowed $36,000. The company plans to set up a sinking fund that will repay the loan at the end of 8 years. Assume a 12% Interest rate compounded semiannually. What must Jeff pay into the fund each period of time? (Do not round intermediate calculations. Round your answer to the nearest cent.) 166 po Payable amount

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