Tim bought a boat valued at $10 104 by agreeing to make semi-annual payments for five years.

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Tim bought a boat valued at $10 104 by agreeing to make semi-annual payments for five years. If the first payment is due on the date of purchase and interest is 8.8% compounded semi-annually, what is the size of the semi-annual payments?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:08 AM

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Tim bought a boat valued at $10 104 by agreeing to make semi-annual payments for five years.

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Contemporary Business Mathematics with Canadian Applications

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