Essay
Nader makes semi-annual payments of $3000 to pay off his loan. Because of unemployment, he defaulted on his last two payments. What total payment is he expected to make during his third payment, if the defaulted payments are compounded monthly at a rate of 6%?
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i = 
= 0.005 = 1 × ...View Answer
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Correct Answer:
Verified
= 0.005 = 1 × ...View Answer
Unlock this answer now
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