Q1. To finance the development of a new product, a company borrowed $50,000 at 7...
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Q1. To finance the development of a new product, a company borrowed $50,000 at 7 % compounded quarterly. If the loan is to be repaid after a period of deferment of three years, in equal quarterly payments over seven years, what is the size of the quarterly payment? ( Hint: Two step question) (5 marks)
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