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1. if you were to borrow $9,300 over five years at 0.11 compounded monthly, what would be your monthly payment? 2. Your uncle promises to

1. if you were to borrow $9,300 over five years at 0.11 compounded monthly, what would be your monthly payment?

2. Your uncle promises to give you $550 per quarter for the next five years starting today. How much is his promise worth right now if the interest rate is 8% compounded quarterly?

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