For Equipment Upgrades, a Business Borrowed $450,000 at an Annual

question 117

Multiple Choice

For equipment upgrades, a business borrowed $450,000 at an annual rate of 8%, compounded semiannually, for 7 years. What are the semiannual payments? Round your answer to the nearest cent. ​

• A)$18,000.00
• B)$21,085.71
• C)$42,601.04
• D)$27,005.84
• E)$336,897.48

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