Question: (1 point) (Exercise 5.22) A borrower takes out a loan of $4800 for 9 years at 10% convertible semiannually. The borrower replaces one third of

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

(1 point) (Exercise 5.22) A borrower takes out a loan of $4800 for 9 years at 10% convertible semiannually. The borrower replaces one third of the principal in a sinking fund earning 5% convertible semiannually and the other two thirds in a sinking fund earning 7% convertible semiannually. Find the total semiannual payment. ANSWER =$

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