Question: (1 point) (Exercise 5.30) A borrower is repaying a $3000 loan with 10 equal semiannual payments of principal. Interest at 4% convertible semiannually is paid

(1 point) (Exercise 5.30) A borrower is repaying a $3000 loan

(1 point) (Exercise 5.30) A borrower is repaying a $3000 loan with 10 equal semiannual payments of principal. Interest at 4% convertible semiannually is paid on the outstanding balance together with the semiannual payments of the principal. Find the current price of the payments to yield an investor 12% convertible semiannually. ANSWER =$

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