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Mike borrowed $14,000 at an effective rate of 6.15%. If the loan is to be repaid in equal semi-annual payments over 3 years, and the

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Mike borrowed $14,000 at an effective rate of 6.15%. If the loan is to be repaid in equal semi-annual payments over 3 years, and the first payment is due 4 years after the date of the loan, what is the size of each semi-annual payment? Paragraph ... PMT Setting N I/Y A is to sh

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