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Furniture Warehouse is offering a sofa for $6,200 and the credit terms are 3 years at an annual interest rate of 6.8%. If you purchase

Furniture Warehouse is offering a sofa for $6,200 and the credit terms are 3 years at an annual interest rate of 6.8%. If you purchase the sofa on credit and make each payment every six months, how much will you have to pay each term?

(Please include the excel formula)

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