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Question3 rV A) You recently repaid R15 636.44 as a result of having taken a R10 000 loan 3 years ago at 15% per annum

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Question3 rV A) You recently repaid R15 636.44 as a result of having taken a R10 000 loan 3 years ago at 15% per annum compounded monthly. Calculate the effective interest rate on this loan over the 3 years. (2) - B) How much must you invest at 16% per annum quarterly compounded to receive R50 000 after 3 years? (2)

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