You borrow $20,000 to be repaid in a lump sum five years from now. The interest rate is 7.2% pa (nominal), payable quarterly. How much interest will you pay over the term of the loan? S4,519.82 b. 58,574.96 e. S7,200.00 d. $3.993.09 e. None of the above Paned of 11 compounding at the rate of 0.75% per month. Thus: $20 000 X (1.0075)' = $20 453.38. Therefore the interest must be $20 453.38 $20 000 = $453.38. See page103. 15 How much will I receive from issuing a 90 day commercial bill of $50 000 at a yield of 6.6% (assuming no fees)? a. S49 199.33 b. S50 800.67 $49 188.39 d. S49 186.30