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- Periodic Payment of Amortized Loan: R=S(1(1+rc)Nrc) - Total Interest Paid: NRS - Pdue=rcR(1+rc)(1(1+rc)N) - P=rcR(1(1+rc)N) (10 points) A ski resort purchases a large piece

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- Periodic Payment of Amortized Loan: R=S(1(1+rc)Nrc) - Total Interest Paid: NRS - Pdue=rcR(1+rc)(1(1+rc)N) - P=rcR(1(1+rc)N) (10 points) A ski resort purchases a large piece of equipment for a chairlift for $300,000 loan with quarterly payments interest rate 4.8% compounded quarterly for 10 years. a) What is the regular quarterly payment? b) What is the interest paid over the life term of the loan

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