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Edmonton Pizza borrowed money to redesign their restaurants. Payments of $880 would be made at the beginning of each month for six years, starting in

Edmonton Pizza borrowed money to redesign their restaurants. Payments of $880 would be made at the beginning of each month for six years, starting in nine months. Interest on the loan is 6.53% compounded quarterly.

(a) How much must the company borrow today?

(b) What will be the amount of the total payments?

(c) How much of the amount paid will be interest?

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