If Rochelle obtained a business loan of $205,000.00 at 4.67% compounded semi-annually, how much should she pay at the end of every 6 months to clear the loan in 30 years?
If Rochelle obtained a business loan of $205,000.00 at 4.67% compounded semi-annually, how much should she pay at the end of every 6 months to clear the loan in 30 years?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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If Rochelle obtained a business loan of $205,000.00 at 4.67% compounded semi-annually, how much should she pay at the end of every 6 months to clear the loan in 30 years?
Round to the nearest cent
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