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To repay a loan that you take out today, you need to make $512.45 at the end of each month for 25 years at 1.2%
To repay a loan that you take out today, you need to make $512.45 at the end of each month for 25 years at 1.2% p.a. compounded semi-annually. You want to find out the original loan balance. Answer the following questions, and choose the closest answer from the possible choices: Choose... This question is an example of (Choose from: Ordinary Simple Annuities or Ordinary General Annuities) Which TVM variable in the financial calculator should be set equal to zero when solving for the original loan balance? What is the effective interest rate over one payment interval? Express the final answer in percentage (%) with 4 decimal places. Choose... Choose... How much was the original loan balance? Choose
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