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Olena loans Amy $20,000. Amy's loan is to be repaid in equal quarterly installments over 8 years at a nominal annual quarterly rate of 8%.

Olena loans Amy $20,000. Amy's loan is to be repaid in equal quarterly installments over 8 years at a nominal annual quarterly rate of 8%. Bob also borrows $20,000 from Olena for 8 years but only pays...

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