Six and a half years ago a small business borrowed 50000, Engineering Mathematics

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Six and a half years ago a small business borrowed 50000

Question: Six and a half years ago, a small business borrowed $50,000 for 10 years at 9%, compounded semiannually, in order to update some equipment. Now the company would like to pay off this loan. Find the payoff amount just after the company makes the 14th semiannual payment of $3843.81.

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Engineering Mathematics: Six and a half years ago a small business borrowed 50000

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Engineering Mathematics: Six and a half years ago a small business borrowed 50000

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