Rosie's Florist borrows $300,000 to be paid off in six years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment? 3) Horace Grant recently signed a lease for a new office building for a period of 10 years. Under the lease agreement, a security deposit of $12,000 is made, with the deposit to be returned at the expiration of the lease, with interest compounded at 10% per year. What amount will the company receive at the time the lease expires?

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1 To calculate the amount of each payment for Rosies Florists loan we can use the formula for calcul... View the full answer