Question

Find the periodic payment that will amount to the given sum under the given conditions: S=$150,000; interest is 6% compounded semiannually; payments are made at the end of each semiannual period for 11 years.

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A man buys a house for $310,000. He makes a $150,000 down payment and amortizes the rest of the debt... Jane owes Sam $15,000. She promises that she will make semi-annual payments over the next 4 years...