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Habib Bank makes a loan of $3750000 for a term of 18 years at an interest rate of 3.95% compounded 4 times per year. The
Habib Bank makes a loan of $3750000 for a term of 18 years at an interest rate of 3.95% compounded 4 times per year. The loan will be repaid with level payments at the end of each month. a) What are the level payments? b) If Habib Bank does not re-invest the loan payments, how much money will they have at the end of 18 years? c) If Habib Bank re-invests the loan payments each month in an account earning 4.55% (compounded 4 times per year), how much money will they have
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