Glenda has just arranged for a ten-year bank loan for $300,000 at an interest rate...
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Glenda has just arranged for a ten-year bank loan for $300,000 at an interest rate of 6% p.a. with interest compounded semi-annually. The loan will be repaid in equal semi-annual instalments and the first payment will be due six months from today. Assuming end-of-the-period cash flows, the interest paid in the second period will be closest to:
Group of answer choices
$8,665.
$11,165.
$11,500.
$9,000.
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