Five-year loan agreement to purchase a piece of property

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Double Circle, Inc. just signed a five-year loan agreement to purchase a piece of property. If the property cost was $160,000, what would be the size of each equal semi-annual payments to amortize the loan at an interest rate of 10%? How much interest will the company be paying over the five-year period?

a) Payment

b) Interest paid

Reference no: EM13870772

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