Question
A druggist borrows $4000 from a bank to stock her drugstore. The interest rate is 4% compounded semiannually with payments due every 6 months. She
A druggist borrows $4000 from a bank to stock her drugstore. The interest rate is 4% compounded semiannually with payments due every 6 months. She wants to repay the loan in 66 months. How much are the semiannual payments? (Round your final answer to two decimal places.)
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Financial Management
Authors: P V V Satyanarayana
1st Edition
9350568012, 9789350568019
