) You borrowed money from bank A today and promise to repay $8,000 in 3 years. The bank charges interest at 4.2% p.a. co

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answerhappygod
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) You borrowed money from bank A today and promise to repay $8,000 in 3 years. The bank charges interest at 4.2% p.a. co

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) You borrowed money from bank A today and promise to repay
$8,000 in 3 years. The bank charges interest at 4.2% p.a.
compounded quarterly for the first year and 4.8% p.a. compounded
monthly thereafter. How much money did you borrow? Round your
answer to the nearest cent. (3 marks)
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