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Paul takes out a 15-year loan of 250,000 from his bank. The bank charges interest at 4% p.a. compounded half-yearly. During the first 10 years,
Paul takes out a 15-year loan of 250,000 from his bank. The bank charges interest at 4% p.a. compounded half-yearly. During the first 10 years, Paul repays $11,000 at the end of each 6 months. After that period, Paul will repay $X at the end of each year for the remaining 5 years. Which of the following can be used to calculate $X. (There may be more than one correct answer. You will lose mark by choosing a wrong answer. The minimum mark for the question is zero.) Select one or more: a. 11000 X 250000 * (1 1.02-20) + -* (1 - 1.0404-5) * (1.02)-20 0.02 0.0404 11000 X b. 250000 -* (1 - 1.02-20) + * (1 1.04-5) 0.02 0.04 c. 250000 * (1.02.20 11000 X * (1.0220 1) + 0.02 0.0404 (1.04045 1) d. 250000 11000 0.02 X (1 1.02-20) + * (1 - 1.04-5) * (1.02)-20 0.04 e. 11000 X 250000 * (1.02.20 -* (1.0220 1) * (1 1.0404-5) 0.02 0.0404 f. None of the equations give the correct
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