Question: (1 point) (Exercise 5.22 ) A borrower takes out a loan of $6300 for 14 years at 12% convertible semiannually. The borrower replaces one third

(1 point) (Exercise 5.22 ) A borrower takes out a loan

(1 point) (Exercise 5.22 ) A borrower takes out a loan of $6300 for 14 years at 12% convertible semiannually. The borrower replaces one third of the principal in a sinking fund earning 8% convertible semiannually and the other two thirds in a sinking fund earning 10% convertible semiannually. Find the total semiannual payment. ANSWER =$ (1 point) (Exercise 5.22 ) A borrower takes out a loan of $6300 for 14 years at 12% convertible semiannually. The borrower replaces one third of the principal in a sinking fund earning 8% convertible semiannually and the other two thirds in a sinking fund earning 10% convertible semiannually. Find the total semiannual payment. ANSWER =$

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