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Assume coupons paid semi-annually, coupon rates and yields quoted with semi-annual compounding, and redeemable at par unless otherwise noted. A loan of $5000 is repaid
Assume coupons paid semi-annually, coupon rates and yields quoted with semi-annual compounding, and redeemable at par unless otherwise noted.
A loan of $5000 is repaid with quarterly payments at the end of each quarter for four years at 5% convertible quarterly. Find the outstanding loan balance at the end of the second year.
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