Answer to Question #346861 in Financial Math for Given

Question

A businessman buys R100 000 of equipment on the following terms:

Interest will be charged at a rate of 12% per year compounded semi-annually, but no payment will be made until two years after purchase. Thereafter equal semi-annual payments will be made for five years. The semi-annual payment is....

A. R22 343,83

B. R17 153,02

C. R29 970,75

D. R13 586,80

Answer 1

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