The Omega Venture Group needs to borrow to finance a project. Repayment of the loan involves payments of

$4,020

at the end of every

six months

for

six

years. No payments are to be made during the development period of

five

years. Interest is

8%

compounded

quarterly.

(a) How much should the Group borrow?

(b) What amount will be repaid?

(c) How much of that amount will be interest?