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14 December, 16:28

Justine purchased computer software for $5,200. With a down payment of $1000 finance the balance at 12% for 6 years. Find the semiannual payments.

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  1. 14 December, 19:24
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    662$

    Step-by-step explanation:

    Total payment = 5200 + (12%*5200$*6) = 8944$

    remaining payment = 8944-1000 = 7944$

    To get semi annual payment:

    6 years*2 = 12 installments

    semi annual payment = remaining/no. of installments=7944:12 = 662$
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