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A loan of 2,000,000$ is to be repaid by semi-monthly payments of 20,000$ to commence half a month from now, and to continue thereafter for
A loan of 2,000,000$ is to be repaid by semi-monthly payments of 20,000$ to commence half a month from now, and to continue thereafter for as long as necessary. Find the time and amount of the final payment if the final payment is to be no smaller than the regular payments. Assume a nominal annual interest rate of i = 6% compounded every half-month
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