A loan is to be repaid with level installments payable at the end of each half-year for 8 years, at a nominal rate of in

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A loan is to be repaid with level installments payable at the end of each half-year for 8 years, at a nominal rate of in

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A Loan Is To Be Repaid With Level Installments Payable At The End Of Each Half Year For 8 Years At A Nominal Rate Of In 1
A Loan Is To Be Repaid With Level Installments Payable At The End Of Each Half Year For 8 Years At A Nominal Rate Of In 1 (28.79 KiB) Viewed 59 times
A loan is to be repaid with level installments payable at the end of each half-year for 8 years, at a nominal rate of interest of 7% convertible semi-annually. After 3 years, the outstanding loan balance is $2,494.98. Find the initial amount of the loan. Answer to the nearest cent. Number
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