A loan for $5000 with interest at 7.75% compounded semi-annually is repaid after 5 years, 10 months.

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A loan for $5000 with interest at 7.75% compounded semi-annually is repaid after 5 years, 10 months. What is the amount of interest paid?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:46 AM

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A loan for $5000 with interest at 7.75% compounded semi-annually is repaid after 5 years, 10 months.

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PV 500000 I Y 775 C Y 2 i 3875 0038...View the full answer

Contemporary Business Mathematics with Canadian Applications

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