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Problem 2: (20 marks) Betty borrowed $2,000,000 from BEA and she needs to repay the loan quarterly over a period of 7 years. Calculate the

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Problem 2: (20 marks) Betty borrowed $2,000,000 from BEA and she needs to repay the loan quarterly over a period of 7 years. Calculate the interest payment and equity corresponding to each payment if the interest rate is 7% per year, compounded quarterly

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