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Calculate the repayment amounts for john and sue

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Reference no: EM133016360

John has taken out a loan for $15,000 where the interest on the loan is 3% P.A compounded monthly over 5 Years? Sue has taken out a loan for $15,000 where the interest on the loan if 3.5% compounded quarterly for the next 4 years.

i) Calculate the repayment amounts for John and sue

ii) Who pays more interest in total over the life of their loan, John or sue?

Reference no: EM133016360

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