Interests will company be paying over the five-year period

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Reference no: EM13726117

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 payment to amortize the loan at an interest rate of 10%? How much interests will the company be paying over the five-year period?

a) Payment=

b) Interest paid=

Please include the formula used to determine each. And show all work.

Reference no: EM13726117

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