Jill wants to buy a car but needs to calculate how much she can afford...
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Jill wants to buy a car but needs to calculate how much she can afford to borrow. The maximum she can repay is $3100 at the end of each quarter and the bank has indicated it will charge a fixed 5.9% p.a compounding quarterly. If she takes a loan for 6 years how much can she afford to borrow? (Do not use the $ sign or commas; include cents e.g 24500.09)
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