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Janine borrowed $27,000 from her bank. She makes $750 payment at the end of each month. The interest is 6% compounded quarterly. a) How many
Janine borrowed $27,000 from her bank. She makes $750 payment at the end of each month. The interest is 6% compounded quarterly. a) How many payments will Janine make altogether to pay back her loan? b) How much is the last payment? c) How much interest will Janine pay over the life of the loan? (Objective: compute the number of periods for ordinary simple annuities)
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