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1)How much would a bank be willing to loan if the borrower offered terms of repaying $10,000 every three years for 36 years (i.e. first
1)How much would a bank be willing to loan if the borrower offered terms of repaying $10,000 every three years for 36 years (i.e. first payment 3 years from today, the second payment is received 6 years from today, etc.) and the relevant rate of interest is 8% compounded annually
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