sum of $ 20,000 is borrowed at an interest rate of 8 percent on the unpaid balance compounded semiannually . The loan is to be paid back with 10 equal payments in 20 years . The payments are to be made every 2 years , starting at the end of the second year . What is the amount of each biennial payment ?<\/p>
Only typed ans <\/p>", "transcribed_text": "", "related_book": { "title": "Accounting What the Numbers Mean", "isbn": "9780077515904, 007802529X, 77515900, 978-0078025297", "edition": "10th edition", "authors": "David H. Marshall, Wayne W. McManus, Daniel F. Viele", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/262.jpg", "uri": "\/textbooks\/accounting-what-the-numbers-mean-10th-edition-262", "see_more_uri": "" }, "free_related_book": { "isbn": "0521182905", "uri": "\/textbooks\/the-individual-in-the-changing-working-life-1st-edition-978-0521182904-148607", "name": "The Individual In The Changing Working Life", "edition": "1st Edition" }, "question_posted": "2024-06-13 13:06:21", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/each-apple-retail-store-has-several-departments-why-is-it", "description": "Each Apple retail store has several departments. 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Very often digital businesses do not have equipment, or raw material,...", "stars": 3 }, { "url": "\/study-help\/questions\/the-point-in-time-in-which-the-revenue-and-the-4651815", "description": "The point in time in which the revenue and the total cost of the program are equal is known as what", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/if-the-main-purpose-of-a-contract-can-be-achieved-2951197", "next": "\/study-help\/questions\/briefly-summarize-the-facts-issues-the-decision-of-the-2951199" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Economics", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-economics" }, { "name": "sum of $ 20,000 is borrowed at an interest rate of 8", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/sum-of-20000-is-borrowed-at-an-interest-rate-2951198" } ], "skill_details": { "skill_id": "12", "skill_name": "Economics", "parent_id": "1" } } }