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The Omega Venture Group needs to borrow to finance a project. Repayment of the loan involves payments of $ 1 0 , 1 8 0
The Omega Venture Group needs to borrow to finance a project. Repayment of the loan involves payments of $ at the end of every year for five years. No payments are to be made during the development period of two years. Interest is compounded monthly.
a How much should the Group borrow?
b What amount will be repaid?
c How much of that amount will be interest?
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