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On January 1 , 2 0 2 4 , Weis Markets purchased a building for $ 1 1 7 , 0 0 0 , making

On January 1,2024, Weis Markets purchased a building for $117,000, making a cash down payment of $9,000 and signing a note requiring eight equal semi-annual payments for the balance. Payments are to be made on June 30 and December 31. The implicit interest rate is 6%. What is the amount of each semi-annual payment?

 

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