What are the payments in the last three years

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Reference no: EM132017982

Uncle Moe’s Family Feedbag borrows a $250,000 in a 5-year loan at an APR of 10%. Only interest is due for the first two years. Over the successive 3 years, equal payments are due so that all the principal is repaid by the end. Payments are made semiannually. What are the payments in the first two years (first 4 payments)? What are the payments in the last three years (payments 5 through 10)?

Reference no: EM132017982

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