Calculate the present value of a loan that could be cleared by payments of $3,250 at the end of every 6 months for 9 years if money earns 6.72% compounded semi-annually. Round to the nearest cent
Added by James H.
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Step 1
First, we need to find the number of payments, which is 9 years * 2 payments per year = 18 payments. Show more…
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