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A 35-year loan is to be repaid by half-yearly repayments of 6,000 starting in 6 months at an interest rate of 5.4% p.a. compounded half yearly. Or, it can be repaid by year-end repayments of

A 35-year loan is to be repaid by half-yearly repayments of 6,000 starting in 6 months at an interest rate of 5.4% p.a. compounded half yearly. Or, it can be repaid by year-end repayments of $X staring in one year. Calculate the yearly repayments $X. Correct your answer to the nearest cent without any units. 

Apr 14 2021 View more View Less

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