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Edmonton Pizza borrowed money to redesign their restaurants. Payments of $ 5 2 0 would be made at the beginning of each month for five
Edmonton Pizza borrowed money to redesign their restaurants. Payments of $ would be made at the beginning of each month for five years, starting in six months. Interest on the loan is compounded annually.
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?
a The company must borrow $ today.
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.
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