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Question 6 (6.66 points) You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $ 278

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Question 6 (6.66 points) You borrowed some money at 8 percent per annum. You repay the loan by making three annual payments of $ 278 (first payment made at t = 1), followed by five annual payments of $ 515 , followed by four annual payments of $ 776. How much did you borrow? (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign). Your Answer: Answer Question 15 (6.76 points) Sam refuses to retire until his retirement account has a balance of at least $ 365,746. Sam refuses to make any more deposits in the account. The account currently has a balance of $ 139,865 and earns 6% per year, compounded semi- annually. How long does Sam have before he will retire? (You are computing number of years. Round your answer to one decimal place. For example, record 14.294 years as 14.3). Your Answer: Answer Question 13 (6.66 points) How much must you deposit in an account today so that you have a balance of $ 7,495 at the end of 5 years if interest on the account is 16 % p.a., but with quarterly compounding? (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign). Your

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