1. A debt of $1000 with interest at 12%, compounded monthly, is amortized by 12 monthly payments...
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2. A debt of $8000 is amortized with eight semiannual payments of $1288.29 each. If money is worth 12%, compounded semiannually, find the unpaid balance after five payments have been made?
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Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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