Determine the interest paid for 4th payment
Problem: A debt of $20,000 is amortized by making equal payments at the end of every 3 months for 4 years, and interest is 6% compounded semi-annually. Determine the interest paid for 4th payment.
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A debt of $20,000 is amortized by making equal payments at the end of every 3 months for 4 years, and interest is 6% compounded semi-annually.
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