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Two years ago, Apex Systems Inc. borrowed $ 5 0 , 0 0 0 at 8 . 7 5 % compounded semi - annually for
Two years ago, Apex Systems Inc. borrowed $ at compounded semiannually for a term of six years. Apex now wishes to pay oft this loan by making a $ payment in six months, and a second payment of the outstanding balance in two years. If money is now worth compounded quarterly, determme the amount of the second payment. Use two years from today as the focal date.
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