Question
Gibran bought a boat valued at $110,194.00 on the installment plan. He made equal semi-annual payments for 6 years. If the first payment is due
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Gibran bought a boat valued at $110,194.00 on the installment plan. He made equal semi-annual payments for 6 years. If the first payment is due on the date of purchase and interest is 7.5% compounded semi-annually, what is the size of the semi-annual payments?
$11153.47
$11032.21
$11458.82
$10293.45
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Sidney Davidson, Roman L. Weil, Clyde P. Stickney
2nd Edition
0030452961, 978-0030452963
