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SP plans to purchase a new injection molding machine for $135,000. It will be completely financed with a loan at 13% APR compounded bi-weekly (every

SP plans to purchase a new injection molding machine for $135,000. It will be completely financed with a loan at 13% APR compounded bi-weekly (every 2 weeks) over 7 years. a. [6 point] What is the bi-weekly payment on the loan? b. [4 point] How much interest will be paid over the 7 years of the loan?

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