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Greg, Alice, and Sue each borrow $10,000 for five years at an annual nominal interest rate of 8%, compounded quarterly. Greg has interest accumulated over

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Greg, Alice, and Sue each borrow $10,000 for five years at an annual nominal interest rate of 8%, compounded quarterly. Greg has interest accumulated over the five years and pays all the interest and principal in a lump sum at the end of five years. Alice pays interest at the end of every 3-month period as it accrues and the principal at the end of five years. Sue repays her loan with 20 level payments at the end of every 3-month period. a) [1.5pt] Calculate Sue's payment for every 3-month period. Don't round the payment. (2 decimals) b) (1.5pt] Calculate the outstanding loan balance for Sue at the end of the 2nd year. (2 decimals) c) (1.5pt] Calculate the amount of interest paid on each of the three loans. (2 decimals) d) [1.5pt) Use words to explain why the interest paid differs for the three borrowers

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