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A contractor's price for a new building was $96,000. You decide to buy the building, making a payment of $12,000 down and financing the balance

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A contractor's price for a new building was $96,000. You decide to buy the building, making a payment of $12,000 down and financing the balance by making equal payments at the end of every 6 months for 12 years. Interest is 7.3% compounded semi-annually. What Is the size of the semi-annual payment? b) Create an amortization table c) For the first payment period, how much interest is paid, how much of the principal is repaid, and what is the loan balance? 1. how much interest is paid, = 2. how much of the principal is repaid, = 3. what is the loan balance? d) For the second payment period, how much interest is paid, how much of the principal is repaid, and what is the loan balance? 1. how much interest is paid, = 2. how much of the principal is repaid, = 3. what is the loan balance? = e) What is your total cost of the building? f) What is the total interest included in your payments

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