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5. Auto loan requires payments of 300 Rial at the end of each interval for 3 years at a nominal annual rate of 9%, compounded

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5. Auto loan requires payments of 300 Rial at the end of each interval for 3 years at a nominal annual rate of 9%, compounded monthly. The present value of this loan equal 9434.04 Rial a. At what interval the payment should be made? b. Find the amount will accumulated at the end of 3 years? (10 marks)

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