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Calculate the fixed principal amount required each six-month

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Question - Windsor Construction Inc. needed financing to buy two Case graders. Windsor receives $260,000 on January 1, 2022, when it issues a 5-year, 5% mortgage note payable. The terms provide for semi-annual instalment payments on July 1 and January 1, with fixed principal amounts. Calculate the fixed principal amount required each six-month period.

Reference no: EM133138063

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