John Fare purchased $24,000 worth of equipment by making a $4000 down payment and promising...
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Finance
John Fare purchased $24,000 worth of equipment by making a $4000 down payment and promising to pay the remainder of the cost in semiannual payments over the next 6 years. The interest rate on the debt is 6%, compounded semiannually. Find the following. (Round your answers to the nearest cent.) (a) the size of each payment $ (b) the total amount paid over the life of the loan (c) the total interest paid over the life of the loan
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