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please helpp To finance the development of a new product, a company borrowed $38,000 at 8% compounded monthly. If the loan is to be repaid
please helpp
To finance the development of a new product, a company borrowed $38,000 at 8% compounded monthly. If the loan is to be repaid in equal semi-annually payments over six years and the first payment is due six months after the date of the loan, what is the size of the semi-annual payment? The size of the semi-annual payment is $ (Round the final answer to the nearest cent as needed Round all intermediate values to six decimal places as needed) Step by Step Solution
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