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5 . 5 5 You borrow a loan of $ 1 0 0 , 0 0 0 to be repaid with quarterly installments in 1

5.55

You borrow a loan of $

100, 000

to be repaid with quarterly installments in

15

years. The quoted rate of interest is

9 %

per annum based on annual rest. Find the quarterly installments in arrears.

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