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Peter just bought a utility vehicle at a cost of $27,850. This debt bears (10.5%,2) interest, and Peter wishes to pay the debt in equal

Peter just bought a utility vehicle at a cost of $27,850. This debt bears (10.5%,2) interest, and Peter wishes to pay the debt in equal monthly installments over a 5-year time period. What is the value of each installment? It means interest is 10.5% compounded semi-annually

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