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What is the loan principle balance after 5 payments

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A gravel mining operation will use a standard loan to purchase a $40,877 crusher. The nominal annual interest rate is 10.8% compounded quarterly, and the company will make equivalent quarterly payments over 2 years. Construct an amortization table to calculate the principle payoff over the life of the loan. What is the loan principle balance after 5 payments?

Reference no: EM133232430

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