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How much of that amount will be interest

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Question - 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.

a. How much did the Achievers borrow?

b. What amount will be repaid?

c. How much of that amount will be interest?

Reference no: EM132789812

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