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Please list the formulas as you are doing these. Thank you. 19. Use the TVM solver on the calculator, fill in the information that you
Please list the formulas as you are doing these. Thank you.
19. Use the TVM solver on the calculator, fill in the information that you typed in the calculator. A loan for $14,500 is borrowed for a period of 3 years at an interest rate of 2.8%/year compounded semiannually. a. What is the amount of the semiannual payment? b. What amount of the first payment will go towards the principal? c. What is the total amount of interest paidStep by Step Solution
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