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Question 2 : ( Value 4 marks ) Acme Inc. acquired a debt of $ 2 5 2 , 0 0 0 . Acme agrees

Question 2: (Value 4 marks)
Acme Inc. acquired a debt of $252,000. Acme agrees to repay the loan with payments of $13,500
made at the end of every three months. Interest is 8.52% compounded semi-annually.
(a) What is the number of payments needed to retire the debt? (Give whole number answer)
(b) What is the interest paid in the 12th payment?
(c) What is the principal repaid in the 15th payment?
(d) What is the cost of the debt (i.e. the interest paid) for the first two years?
Show all inputs and any other necessary work below. Use the table for part (a).
For parts (b),(c), and (d) show the inputs you used for P1 and P2 in the blank area below.
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