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Q 2 ) David received a loan of $ 8 , 0 0 0 at 6 . 3 2 % compounded semi - annually from

Q2) David received a loan of $8,000 at 6.32% compounded semi-annually from a credit union to use as working capital for his business. He had to make semi-annual payments for a period of 5 years to settle the loan. Calculate the size of his payments.

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