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A Loan of $45,000 Calls for Equal Payments at the End

Question 52

Multiple Choice

A loan of $45,000 calls for equal payments at the end of every three months for the next six years. What is the size of the payments if the interest rate is 14% compounded semi-annually?


A) $3,924
B) $2,802
C) $3.817
D) $2,785
E) $3,395

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