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Cathy plans to take out a loan with her bank. The bank charges interest at 3.6% p.a. compounded monthly. There are two ways to repay

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Cathy plans to take out a loan with her bank. The bank charges interest at 3.6% p.a. compounded monthly. There are two ways to repay the loan. Cathy can either repay $1500 at the end of each month for 15 years or she can make a single repayment of $X 9 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: 1500 a. X = 0.036 1500 b. X = 0.036 (1.03615 1) * (1.036)-6 * (1.0369 1) c. None of the equations gives the correct X. 1500 *(1.003180 1) + (1.003)-72 0.003 d. X = e. (1 1.00372) 1500 1500 * (1.003108 1) + 0.003 0.003 1500 * (1.003108 0.003 f.X = 1)

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