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Karmen borrowed $6086.00 compounded semi annually to help finance her education. She contracted to repay the loan in semi annual payments of $322.00 each. If
Karmen borrowed $6086.00 compounded semi annually to help finance her education. She contracted to repay the loan in semi annual payments of $322.00 each. If the payments are due at the end of every 6 months and interest is 7% compounded semi annually , how long will karmen have to make semi annual payments? State your answer in years and months (from 0 to 11 months).
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