Question: The Ram Company borrowed $20 000 at 10% compounded semi-annually and made payments toward the loan of $8000 after two years and $10 000 after

The Ram Company borrowed $20 000 at 10% compounded semi-annually and made payments toward the loan of $8000 after two years and $10 000 after three-and-a-half years. How much is required to pay off the loan one year after the second payment?

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