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A man receives a loan of 107,420.9 with interest 2.2 % compounded semi-annually. He will settle his debt by semi-annual payments, the first due the
A man receives a loan of 107,420.9 with interest 2.2 % compounded semi-annually. He will settle his debt by semi-annual payments, the first due the end of 3 years and the last at the end of 16 years. How much is the semi-annual periodic payment?
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
