Problem 7 (Loan Payments, 7 points total). Suppose you want to pay off a loan early. The loan requires SEMI-ANNUAL payments (every 6 months, m=2 times a year) of $2000 each, has 6 years remaining, and APR of 10%. How much must you pay now to liquidate the loan. (Hint: you are figuring out a PV.) Write down your calculator entries for N, I/Y, PMT, FV, and your answer from CPT PV. You will record your answers in three parts to this problem. Part A (Here). Please indicate your calculator entry for N and I/Y, where N is a simple integer (e.g., 10 for 10 periods), and I/Y is recorded as xx.x (to one decimal, recorded as percentage points per the calculator, e.g., 5.0 for 5%).
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