Find the payoff amount, Six and a half years ago, a small

Find the payoff amount

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Question: Six and a half years ago, a small business borrowed $50,000 for 10 years at 9%, compounded semiannually, in order to update some equipment. Now the company would like to pay off this loan. Find the payoff amount just after the company makes the 14th semiannual payment of $3843.81.

Reference no: EM131785214

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