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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 $800 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 $800 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 5.1% per annum compounded quarterly? Select one: O a. $18738.61 O b. $4612.37 O c. $18977.52 O d. $4847.60

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