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Bianca plans to take out a loan with her bank. The bank charges interest at 4.8% p.a. compounded monthly. There are two ways to repay

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Bianca plans to take out a loan with her bank. The bank charges interest at 4.8% p.a. compounded monthly. There are two ways to repay the loan. Bianca can either repay $2500 at the end of each month for 8 years or she can make a single repayment of $X 6 years after the borrowing date. Which of the following equation(s) can be used to find $X. (There may be more than one correct answer. You will lose mark by picking a wrong answer. The minimum mark for the question is zero.) Select one or more: 2500 a. X = (1.0488 1) 2 (1.048)-2 0.048 2500 O b. X = +(1.00472 1) 0.004 2500 2500 c. X= (1 - 1.004-24) 0.004 2500 O d. X= (1.004% 1) + (1.004)-24 0.004 2500 eX= (1.0486 - 1) 0.048 f. None of the equations gives the correct X. (1.00472 1) + 0.004 *

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