Question: (1 point) (Exercise 5.26) A borrows $11000 for 9 years at 12% convertible semiannually. A pays the interest semiannually and replaces the principal by means

(1 point) (Exercise 5.26) A borrows $11000 for 9 years at

(1 point) (Exercise 5.26) A borrows $11000 for 9 years at 12% convertible semiannually. A pays the interest semiannually and replaces the principal by means of deposits at the end of every year for 9 years into a sinking fund which earns 10% effective. Find the total dollar amount which A must pay over the 9-year period to completely repay the loan. ANSWER =$

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