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A speculator agrees to pay $15,000 for a parcel of land; this amount, with interest, will be paid over 4 years with semiannual payments at
A speculator agrees to pay $15,000 for a parcel of land; this amount, with interest, will be paid over 4 years with semiannual payments at an interest rate of 10% compounded semiannually. Find the amount of each payment.
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