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A debt of $25,000 is repaid by payments of $3,500 made at the end of every six months. Interest is 11% compounded semi-annually. a. How

A debt of $25,000 is repaid by payments of $3,500 made at the end of every six months. Interest is 11% compounded semi-annually.

a. How many payments are needed to repay the debt?

b. What is the size of the final payment?

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