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Determine the number of foil payments required

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A university graduate must repay the government $4201] for uumtanding student loans. The graduate can afford to pay $151] monthly. If the ?rst payment is made at ?te end of the ?rst year and money is worth 11% compounded quarterly, determine the number of foil payments required and the size of the smaller concluding payment.

Reference no: EM133065173

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