In order to upgrade its equipment, Simon Reilly Chemicals (SRC) borrowed $2.8 million at 6.4% compounded quarterly
Question:
(a) Find the amount refinanced.
(b) Find SRC's new quarterly payment.
(c) Find the amount saved by refinancing.
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Related Book For 
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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