How much is each payment, If the annualinterest rate is 7% compounded semiannually, how, Microeconomics

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How much is each payment

Problem

A loan of $1000 is to be repaid in three equal semiannual (every 6 months) payments. If the annualinterest rate is 7% compounded semiannually, how much is each payment?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: How much is each payment

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Microeconomics: How much is each payment

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