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A debt of $ 3 1 0 0 0 is repaid over 8 years with payments occurring semi anually. Interest is 1 2 % compounded
A debt of $ is repaid over years with payments occurring semi anually. Interest is compounded monthly.
a What is the size of the periodic payment?
b What is the outstanding principal after payment
c What is the interest paid on payment
d How much principal is repaid in payment
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