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Problem #1: Suppose you take out a loan and repay it over a period of 20 years through level payments of $230 made every 3

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Problem #1: Suppose you take out a loan and repay it over a period of 20 years through level payments of $230 made every 3 [5 marks] months where interest accumulates at a nominal annual rate of 5% compounded quarterly. (a) Find the interest accumulated during the 10th period. (b) Find the principal repaid during the 41st period. (A) 140.79 (B) 131.79 (C) 137.79 (D) 143.79 (E) 134.79 Problem #1(a): Select 1 Part (a) choices. (A) 133.94 (B) 139.94 (C) 130.94 (D) 127.94 (E) 136.94 Problem #1(b): Select 1 Part (b) choices

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