Question: Keith needs $18,000 (P) immediately to make a down payment on a new home. Suppose that she can borrow this money from his company credit

Keith needs $18,000 (P) immediately to make a down payment on a new home. Suppose that she can borrow this money from his company credit union. He will be required to repay the loan in equal payments every six months over the next 12 years at a nominal interest rate (r) of 105 per year. The interest will accrue monthly (c=6). What is the amount of each semi-annual payment (A)?

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