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Determine the month-end payments required on the loan

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Reference no: EM132907183

Problem - To purchase his new car, Scooby-Doo has obtained a six-year loan for $40,000 at 8.8% compounded semi-annually.

a) Determine the month-end payments required on the loan.

b) How much interest would Scooby-Doo have paid at the end of the loan term?

Reference no: EM132907183

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