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For this question, on parts b and d, I am having trouble with the fact that the interest payments are made biannually. For part b,
For this question, on parts b and d, I am having trouble with the fact that the interest payments are made biannually. For part b, would the interest expense simply be divided by 2 to equal $3,253, and then would the payment be divided by 2 to equal $4,000?
Along those same lines for part d, would the present value be PV= ($100,000, 9 periods, 3%)?
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