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Jack wants to buy a boat today today but has realised that if he takes out a loan he can only repay $200 quarterly, with

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Jack wants to buy a boat today today but has realised that if he takes out a loan he can only repay $200 quarterly, with payments made at the beginning of each quarter, over the next 7 years. How much can he spend on his boat today if the interest rate is 5.3% per annum compounded quarterly? Select one: a. $4714.83 b. $4653.17 c. $1205.47 d. $1144.80

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