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Posted by on Monday, May 2, 2011 at 9:58pm.

adebt of $6000 is to be amortized with 8 equal semiannual payments. If the interest rate is 5%, compounded semiannually, what is the size of each payment

  • math - , Monday, May 2, 2011 at 10:25pm

    solve for P , the payment

    6000 = P(1 - 1.025^-8)/.025

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