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Question A loan of $9600 is repaid by equal payments made at the end of every three months for 3 years. If interest is 7%

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A loan of $9600 is repaid by equal payments made at the end of every three months for 3 years. If interest is 7% compounded quarterly. a) What is the size of the periodic payment? b) What is the interest paid in the 9th payment? ( Money up to 2 d.p. )

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