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Henry takes out a 15-year loan or $300,000 today. The bank charges interest at 4.4% p.a. compounded quarterly. During the first 5 years of the

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Henry takes out a 15-year loan or $300,000 today. The bank charges interest at 4.4% p.a. compounded quarterly. During the first 5 years of the loan term, Henry will repay $6,000 at the end of each quarter. After that period, Henry will pay $X at the end of each quarter in order to repay the loan on time. Which of the following can be used to calculate $X. (There may be more than one correct answer. You will lose marks by choosing a wrong answer. The minimum mark for the question is zero.) Select one or more: a. 6000 X 300000 *(1 1.011-20) + -* (1 1.011-40) 0.011 0.011 b. 6000 X 300000 = * (1 - 1.011-20) + 0.011 0.011 * (1 1.011-40) **(1.011)-20 C * 6000 X 300000* (1.011)20 (1.01120 1) = * (1 - 1.011-40) 0.011 0.011 d. None of the equations give the correct answer. e. 300000* (1.011)20 6000 * (1.01120 1) 0.011 X * (1 - 1.011-20) 0.011 300000 6000 + (1 - 1.044-5) + + (1 - 1.044-10) 0.044 0.044

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