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A debt of $7000 is to be amortized with 4 equal semiannual payments. If the interest rate is 5%, compounded semiannually, what is the size

A debt of $7000 is to be amortized with 4 equal semiannual payments. If the interest rate is 5%, compounded semiannually, what is the size of each payment? (Round your answer to the nearest cent.)

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