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The owner of Blue Goose Motel borrowed $12 500 at 7.1% compounded semi-annually and agreed to repay the loan by making payments of $700 at

The owner of Blue Goose Motel borrowed $12 500 at 7.1% compounded semi-annually and agreed to repay the loan by making payments of $700 at the ned of every 3 months.

a)how many payments will be needed to repay the loan?

b)how much will be owed at the end of 5 years?

c)by the end of 5 years of payments, how much interest has been paid?

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