For equipment upgrades, a business borrowed $500,000 at 8% compounded semiannually for 6 years. What are the semiannual payments (in dollars)?

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1EA: Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest...
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For equipment upgrades, a business borrowed $500,000 at 8% compounded semiannually for 6 years. What are the semiannual payments (in dollars)? 

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