A man buys a house for $ 310,000. He makes a $150,000 down payment and amortize the rest of the purchase price with semiannual payments over the next 13 years. The interest rate on the debt is 12%, compounded semiannually.
Down payment= $150,000
Payment remaining= 310,000-150,000
Now remaining payment he will pay in 13 years
Total amount to be paid ...
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