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7. Tanla borrows $4100.00 for 9 years at 5.9% per annum, compounded semi-annually. How much Interest is paid over the life of the loan?

7. Tanla borrows $4100.00 for 9 years at 5.9% per annum, compounded semi-annually. How much Interest is paid over the life of the loan? (2 marks) 3 .8. Which is the better investment for 8 years? $1500 compounded monthly at 4.8%, or $1500 compounded semi-annually at 4.9%? How much more does the better investment earn? (3 marks) (3 marks)

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