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Fly By Night Trucking Company is financing a new truck with an amortized loan of $50,000 to be repaid in 11 semi-annual installments of $5,

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Fly By Night Trucking Company is financing a new truck with an amortized loan of $50,000 to be repaid in 11 semi-annual installments of $5, 776, 92, paid at the end of each six months. (Draw a cash flow diagram) What type of annuity is this? _____ What is the annual cost of debt for this loan? 8.4500%

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