How much did the achievers borrow

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Reference no: EM132775657

The Saskatchewan Junior Achievers need to borrow to finance a project. Repayment of the loan involves payments of $8711.00 at the end of every three months for six years. No payments are to be made during the development period of three years. Interest is 9.24% compounded quarterly.

Problem a. How much did the Achievers borrow?

Problem b. What amount will be repaid?

Problem c. How much of that amount will be interest?

Reference no: EM132775657

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