a debt of 38,000 is repaid over 12 years with payments occuring monthly. interest is 11% compounded
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Question:
a debt of 38,000 is repaid over 12 years with payments occuring monthly. interest is 11% compounded semi-annually.
(a) What is the size of the periodic payment?
(b) What is the outstanding principal after payment 83?
(c) What is the interest paid on payment 84?
(d) How much principal is repaid in payment 84?
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