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Wayne - Powers has purchased a fleet of delivery vehicles for $ 2 0 0 , 0 0 0 with a 1 0 % down
WaynePowers has purchased a fleet of delivery vehicles for $ with a
down payment. The remainder of the debt is to be amortized via semiannual
payments of $except for one smaller final payment Interest on the debt is
compounded monthly.
a How long will this debt take to pay?
b How much of the th payment will go towards reducing principal?
c Determine the size of the final payment.
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