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1. If a person borrows $9000 from his bank at 10% per year for five years how much must he repay at that time if

1. If a person borrows $9000 from his bank at 10% per year for five years how much must he repay at that time if the

a) Interest is Compounded annually

b) Interest is compounded semi-annually.

Suppose the bank wanted three equal repayments at the end of each year. Assume interest is compounded semi-annually.

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