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Amount of regular quarterly loan payments

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You are arranging a loan to buy a work van that costs $84,000. The bank will loan you the funds over 7 years with equal quarterly repayments except for the last payment in quarter 28 which is $30,000. If the interest rate is 13.5%p.a. compounded quarterly what is the amount of regular quarterly loan payments.

Reference no: EM132638303

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