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Can you please explain me this question? Thanks! 1. Hewlett Plastics Inc. received a loan of $860 000 at 8.75% compounded semi-annually to purchase machinery

Can you please explain me this question? Thanks!

1. Hewlett Plastics Inc. received a loan of $860 000 at 8.75% compounded semi-annually to purchase machinery for the factory. Calculate the time period (in years and days) of the loan if the interest accumulated was $355 801.96.

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