What will be the amount of this last payment

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Reference no: EM133433857

Question: Let us assume that a debt of $12,000 that is due in 10 years can be paid in four payments: $3,000 now, $2,000 in three years, $2,000 in six years, and a final payment after eight years. What will be the amount of this last payment with an interest rate of 5.5%, compounded twice a year?

Reference no: EM133433857

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