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22-03-2024
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Armstrong Fisheries took out a $400,000 loan. Clyde Armstrong wants to know the semiannual payment for the next 10 years at the loan interest rate of 8% per year compounded quarterly. What is the n value?
a) $30,508.14
b) $40,000.00
c) $45,863.68
d) $50,000.00

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