Question: HW11: Problem 2 Previous Problem List Next (1 point) A borrower is repaying a $3000 loan with 10 equal payments of principal. Interest at 4%

HW11: Problem 2 Previous Problem List Next (1 point) A borrower

HW11: Problem 2 Previous Problem List Next (1 point) A borrower is repaying a $3000 loan with 10 equal payments of principal. Interest at 4% convertible semiannually is paid on the outstanding balance together with the semiannual payments of the principal. Find the current price of the payments to yield an investor 10% convertible semiannually. ANSWER-$

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