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A $25,000 bond loan was cleared in 7 years by setting up a sinking fund that was earning 5.50% compounded semi-annually. The deposits were made
A $25,000 bond loan was cleared in 7 years by setting up a sinking fund that was earning 5.50% compounded semi-annually. The deposits were made to the fund at the end of every 6 months. a. Calculate the size of the periodic payments deposited. $0.00 Round your answer up to the next cent b. What was the total interest earned by the fund? $0.00 Round to the nearest cent
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