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A company takes out a bank loan of R110 000 at 8% per annum on the 1 st of Jan...
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A company takes out a bank loan of R110 000 at 8% per annum on the 1 of January. The loan agreement states that the company will pay back the loan (capital and interest) over 3 years in equal quarterly payments. What will the payment for each quarter be if you apply either the correct equation, mathematical formula, or financial calculator. Set your calculator at four decimals and round the final answer to the nearest rand. Slight rounding differences may occur - choose the alternative that is closest to your answer.
(a) R 42 685
(b) R 33 884
(c)
(d) R139 594
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