Question: Annette borrows $ 6 , 0 0 0 at an annual nominal rate of 8 % convertible semiannually and will repay the loan with decreasing
Annette borrows $ at an annual nominal rate of convertible semiannually and will repay the loan with decreasing payments every six months for years.Her first payment will be P at the end of six months and each subsequent payment will be $ less than the preceding payment.Annette makes the scheduled payments during years and however, she is unable to make the payments during years and She makes the originally scheduled payments in years How much does Annette owe on the loan at the end of year ABCDE
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