On January 1, Yumati Electric borrows $200,000 at an interest rate of 6% today and will repay

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On January 1, Yumati Electric borrows $200,000 at an interest rate of 6% today and will repay this amount by making 20 semiannual payments beginning May 31. What is the approximate amount of each payments that Yumati will need to make? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar.)

Posted Date: Oct 11, 2021 04:36 PM

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On January 1, Yumati Electric borrows $200,000 at an interest rate of 6% today and will repay

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