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What will be amount of each payment?

What will be amount of each payment?Large semitrailer trucks cost $110,000 each. Ace Trucking buys such a truck and agrees to

pay for it by a loan that will be amortized with 9 semiannual payments at 8% compounded

semiannually.

Top Answer

pmt=(r*PV)/(1-(1+r -n ) where r=8/200=0.04 and... View the full answer

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$17,396. See below for... View the full answer

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The amount of each... View the full answer

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