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A university graduate borrows plo 6 0 0 0 . 0 0 to buy a plot. The bank chargs intaest at an annual rate of
A university graduate borrows plo to buy a plot. The bank chargs intaest at an annual rate of Assuming that interest is compounded continuously and the borrower makes payment continuously at a constant rate determine
a The payment rate that is required to pay off the loan in four years. b How mach interest is paid during the four years period?
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