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A developer wants to buy a certain parcel of land. The developer feels she can afford payments of $29,000 each half-year for the next

A developer wants to buy a certain parcel of land. The developer feels she can afford payments of $29,000 each half-year for the next 8 years. How much can she borrow and hold to this budget at an annual rate of 7.8% compounded semianually? Round your answer to the nearest cent. A) $696,273.10 B) $340,423.07 $196,058.37 D) $524,996.94 $656,320.20 D

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