A Debt of $12,000,which Is Due 10 Years from Now,is

question 78

Short Answer

A debt of $12,000,which is due 10 years from now,is instead to be paid off by four payments: $3000 now,$2000 in 3 years,$2000 in 6 years,and a final payment at the end of 8 years.What would this payment be if an interest rate of 5.5% compounded semiannually is assumed?

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Definitions:

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Acupuncture

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