The Omega Venture Group needs to borrow to finance a project. Repayment of the loan involves payments of $1,830 at the end of every month for five years. No payments are to be made during the development period of eight years. Interest is 5% compounded annually.

(a) How much should the Group borrow?

(b) What amount will be repaid?

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

a) The Group should borrow $

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)