Question: (1 point) A borrows $18000 for 10 years and agrees to make semiannual payments of $1500. The lender receives 13% convertible semiannually on the investment

(1 point) A borrows $18000 for 10 years and agrees to

(1 point) A borrows $18000 for 10 years and agrees to make semiannual payments of $1500. The lender receives 13% convertible semiannually on the investment each year for the first 5 years and 11 % convertible semiannually for the second 5 years. The balance of each payment is invested in a sinking fund earning 9% convertible semiannually. Find the amount by which the sinking fund is short of repaying the loan at the end of the 10 years ANSWER-$

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