Question: HW10: Problem 4 Previous Problem Problem List Next Problem (1 point) (Exercise 5.21) A borrows $18000 for 8 years and agrees to make semiannual payments

HW10: Problem 4 Previous Problem Problem List Next Problem (1 point) (Exercise 5.21) A borrows $18000 for 8 years and agrees to make semiannual payments of $1600. The lender receives 13% convertible semiannually on the investment each year for the first 4 years and 12% convertible semiannually for the second 4 years. The balance of each payment is invested in a sinking fund earning 10% convertible semiannually. Find the amount by which the sinking fund is short of repaying the loan at the end of the 8 years. ANSWERS Preview My Answers Submit Answers

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