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A person bought a golf cart on credit, which in cash cost $100,000. To cover the full cost of the cart, the person promised to
A person bought a golf cart on credit, which in cash cost $100,000. To cover the full cost of the cart, the person promised to make 6 equal annual payments to the car dealership, of which the first payment would occur at the time of receiving the cart (in t=0) as hook. How much should each payment be if the agency charges an interest for financing of 12% annual nominal capitalizable semi-annually?
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