For equipment upgrades, a business borrowed $600,000 at an annual rate of 7%, compounded semiannually, for 7 years. What are the semiannual payments? Round your answer to the nearest cent.
A) $21,000.00
B) $25,777.00
C) $54,942.44
D) $33,961.59
E) $446,612.71

Question

For equipment upgrades, a business borrowed $600,000 at an annual rate of 7%, compounded semiannually, for 7 years. What are the semiannual payments? Round your answer to the nearest cent. ​
A) $21,000.00
B) $25,777.00
C) $54,942.44
D) $33,961.59
E) $446,612.71

Quizplus · Accepted Answer

The Answer of For equipment upgrades, a business borrowed $600,000 at an annual rate of 7%, compounded semiannually, for 7 years. What are the semiannual payments? Round your answer to the nearest cent. ​
A) $21,000.00
B) $25,777.00
C) $54,942.44
D) $33,961.59
E) $446,612.71

For Equipment Upgrades, a Business Borrowed $600,000 at an Annual