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Nevaeh initially borrowed $5,500 from RBC Bank at 3.97% compounded semi-annually. After 4 years she repaid $2,200, then 7 years after the $5,500 was initially
Nevaeh initially borrowed $5,500 from RBC Bank at 3.97\% compounded semi-annually. After 4 years she repaid $2,200, then 7 years after the $5,500 was initially borrowed she repaid $2,365. If she pays off the debt 10 years after the $5,500 was initially borrowed, how much should her final payment be to clear the debt completely? Round all answers to two decimal places if necessary. P/Y= C/Y= % PMT =$ Amount owed after 4 years (before the first payment) =$ positive value) N= 6. 1/N= PV=$ PMT =$ o FV=$ Amount owed after the first payment of $2,200 (enter a positive value): $ P/Y= PV=$ bo C/Y= % Amount owed after 7 years (before the second payment) =$ (enter a positive value) Amount owed after the second payment of $2,365 (enter a positive value): $
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