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Danielle obtained a business loan of $290,000 at 3.77% compounded semi-annually. (Question relates to: Annuities - Future and Present Value Calculations for Ordinary Simple and
Danielle obtained a business loan of $290,000 at 3.77% compounded semi-annually. (Question relates to: Annuities - Future and Present Value Calculations for Ordinary Simple and General Annuity)
a. What was the size of the semi-annual payments to be made over 30 years in order to pay off the loan?
$_________________ Round to the nearest cent
b. Calculate the interest paid on the loan. $____________________ Round to the nearest cent
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