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Gary borrows $50,000 from the bank and he plans to make quarterly repayments of $2,500 starting one year after the borrowing date. The interest rate

Gary borrows $50,000 from the bank and he plans to make quarterly repayments of $2,500 starting one year after the borrowing date. The interest rate is 4% p.a. compounded quarterly.

Calculate the number of full $2,500 repayments Gary needs to make to repay the loan.

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