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a) Nancy takes a personal loan and will repay the loan by 6 quarterly deposits of $5,000 starting in 6 months. The interest rate is

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a) Nancy takes a personal loan and will repay the loan by 6 quarterly deposits of $5,000 starting in 6 months. The interest rate is 4% p.a. compounded quarterly. Calculate how much money Nancy borrowed today. (Round your answer to the nearest cent.)

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