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The Omega Venture Group needs to borrow to finance a project. Repayment of the loan...

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Finance

The Omega Venture Group needs to borrow to finance a project. Repayment of the loan involves payments of $3,920 at the end of every three months for five years. No payments are to be made during the development period of nine years. Interest is 8% compounded semi-annually.

(a) How much should the Group borrow?

(b) What amount will be repaid?

(c) How much of that amount will be interest?

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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