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Business, 20.06.2020 16:57 NabzDayer5214

An individual needs $12,000 immediately as a down payment on a new home. Suppose that he can borrow this money from his insurance company. He must repay the loan in equal payments every six months over the next eight years. The nominal interest rate being charged is 7% compounded continuously. What is the amount of each payment

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An individual needs $12,000 immediately as a down payment on a new home. Suppose that he can borrow...

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