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6. A corporation takes out a loan for $88,000 with interest due every six months for 7-years at 12. The principal will be paid in
6. A corporation takes out a loan for $88,000 with interest due every six months for 7-years at 12. The principal will be paid in one lump sum at the end of 7-years. The corporation makes semi-annual deposits of $5,150.32 into a sinking fund. The semi-annual cost of the loan is $9,110.32. What would be the semi-annual payment if the corporation was to instead pay off the loan using the amortization method, given the interest rate on the loan remained the same at j2
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