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Find the semi-annual payments

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Question - Answer the annuity and amortization problem and draw the cash flow diagram

A businessman borrowed $300,000 with interest at the rate of 6% compounded semi-annually. He agrees to discharge his obligations by paying a series of 8 equal payments, the first being due at the end of 5½ years. Find the semi-annual payments.

Reference no: EM132727482

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