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Explain size of the payments at the end of every quarter

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Reference no: EM132681573

A $65,000 loan was amortized over 12 years at 3.00% compounded monthly. Payments were made at the end of every quarter to clear the loan.

a. What is the size of the payments at the end of every quarter?

b. What was the balance at the end of 3 years?

c. What was the interest portion of payment 24?

Reference no: EM132681573

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