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Micro Brewery borrows $330,000 to be repaid in equal installments over a period of six years. The loan payments are semiannual with the first payment
Micro Brewery borrows $330,000 to be repaid in equal installments over a period of six years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment?
a. $33,152.
b. $27,500.
c. $32,187.
d. $28,325.
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