document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1195220>Question 1195220</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In return for a loan, with money worth 7% compounded semiannually, a man promises to pay $600 at the end of each 6 months for 8 years. (a) Find the sum which he borrows. </SPAN>\n" );
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document.write( "the sum which he borrows is $7256.47.<BR>\n" );
document.write( "7% per year / 2 compounding periods per year = 3.5% per semi-annual period.<BR>\n" );
document.write( "8 years * 2 compounding periods per year = 16 semi-annual periods.<BR>\n" );
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