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Find the total dollar amount which a must pay

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Question - A borrows $10,000 for five years at 12% convertible semiannually. A replaces the principal by means of deposits at the end of every year for five years into a sinking fund which earns 8% effective. Find the total dollar amount which A must pay over the five-year period to completely repay the loan. Answer to the nearest dollar.

Reference no: EM132766864

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