You are thinking about buying a piece of art that costs $10,000. The art dealer...
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Finance
You are thinking about buying a piece of art that costs $10,000. The art dealer is proposing the following deal: He will lend you the money, and you will repay the loan by making the same payment every two years for the next 10 years (i.e., a total of 5 payments). If the interest rate is 7% per year , how much will you have to pay every two years? Every two years the payment is $. (Round to the nearest dollar.)
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