A family took home improvement loan for $25,000. Interest on the loan at a rate i(2) =
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A family took home improvement loan for $25,000. Interest on the loan at a rate i(2) = 10% must be paid at the end of each six month period. Also at the end of each six month period payments are made into the sinking fund that earns j (2) = 6%. At the end of 5 years the balance in the sinking fund is the same as the value of loan. Find the total amount of money that family needs to pay every six months.
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