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Jack borrows $9,000 to be repaid in 6 equal year-end amounts over 6 years. If the interest rate is 5.5% per annum compounded quarterly, Jacks
Jack borrows $9,000 to be repaid in 6 equal year-end amounts over 6 years. If the interest rate is 5.5% per annum compounded quarterly, Jacks annual repayment is (rounded to nearest dollar; dont include the $ sign or commas):
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