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What are the quarterly payments for a loan of R1 540 000 bearing interest at 16...
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What are the quarterly payments for a loan of R1 540 000 bearing interest at 16% per annum, repayable in equal bi-annual payments over the next 10 years? You can apply either the correct equation, mathematical formula, or financial calculator. Set your calculator to four decimal places and round your final answer to the nearest rand. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a) R318 628
(b) R156 852
(c) R259 747
(d) R229 508
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