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PART THREE (6 marks): Suppose that you borrow $10,000 from a bank to purchase a car

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PART THREE (6 marks): Suppose that you borrow $10,000 from a bank to purchase a car. You agree with the bank to repay the loan into equal payments every four months for one year. If the interest rate is 16% compounded quarterly, calculate the interest paid, principal paid, and the end balance for each period until the loan is totally repaid.