Business, 28.02.2020 20:52 dooboose15

Seth, Janice, and Lori each borrow 5,000 for five years at an annual nominal interest rate of 12%, compounded semi-annually. Seth has interest accumulated over the five years and pays all the interest and principal in a lump sum at the end of five years. Janice pays interest at the end of every six-month period as it accrues and the principal at the end of five years. Lori repays her loan with 10 level payments at the end of every six-month period. Calculate the total amount of interest paid on all three loans.

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Seth, Janice, and Lori each borrow 5,000 for five years at an annual nominal interest rate of 12%, c...

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