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(a) Harry has borrowed $300,000 at 9% pa. for 5 years on the reducing balance method. With the use of a table, show the amortization

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(a) Harry has borrowed $300,000 at 9% pa. for 5 years on the reducing balance method. With the use of a table, show the amortization of the loan and the total interest paid. (5 marks) (b) Toby has borrowed $300,000 at 9% pa. for 5 years on the add-on basis. calculate () the total loan interest (1 mark) (2 marks) ii) calculate the weekly interest payments(2 marks) (ii) calculate the monthly interest payments (c) Three friends, Jack, Joe & Jill are in an investment club and have made following investments: (i) Jack has made a single investment of $20,000 @ 10% pA for 6 years () Joe deposits $20,000 at the beginning of each year for 6 years @ 10% p.a. () Jill has made a single investment of $20,000 for 6 years @ 10% p.a. compounded quarterly. Required: With the use of a table calculate the annual and total value of the three (3) investments. (10 marks)

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