Problemdouble circle inc just signed a five-year loan, Ask an Expert

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Problem:

Double Circle, Inc. just signed a five-year loan agreement to purchase a piece of property. If the property cost was $160,000, what would be the size of each equal semi-annual payment to amortize the loan at an interest rate of 10%? How much interests will the company be paying over the five-year period?

a) Payment=

b) Interest paid=

Note: Explain all calculation and formulas.

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Category:- Basic Finance
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