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The Omega Venture Group needs to borrow to finance a project. Repayment of the loan imolves payments of 5570 at the end of every month

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The Omega Venture Group needs to borrow to finance a project. Repayment of the loan imolves payments of 5570 at the end of every month for three years. No payments are to be made during the development period of nine 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

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