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How many payments are needed to repay the debt

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Reference no: EM132965038

A debt of $25,000 is repaid by payments of $3,500 made at the end of every six months.

Interest is 11% compounded semi-annually.

Problem 1: How many payments are needed to repay the debt?

Problem 2: What is the size of the final payment?

Reference no: EM132965038

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