A debt of $7,000.00 is to be paid off with 10 equal semi-annual payments. If the interest rate is 13% compounded semi-annual, what is the size of the payment? The semi-annual payment would be $. (Round to 2 decimal places.)
A debt of $7,000.00 is to be paid off with 10 equal semi-annual payments. If the interest rate is 13% compounded semi-annual, what is the size of the payment? The semi-annual payment would be $. (Round to 2 decimal places.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 7P
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A debt of $7,000.00 is to be paid off with 10 equal semi-annual payments. If the interest rate is 13% compounded semi-annual, what is the size of the payment?
The semi-annual payment would be $. (Round to 2 decimal places.)
The semi-annual payment would be $. (Round to 2 decimal places.)
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