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I want to buy a boat today today but have realised that if I take out a loan I can only repay $150 quarterly, with
I want to buy a boat today today but have realised that if I take out a loan I can only repay $150 quarterly, with payments made at the beginning of each quarter, over the next 5 years. How much can I spend on my boat if the interest rate is 16% per annum compounded quarterly ?
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