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What must he pay when the payment is due

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Question - M purchased a small lot in a subdivision, paying 200,000 down and promising to pay 15,000 every 3 months for the next 10 years. The seller figured interest at 12% compounded quarterly. If M missed the first 10 payments, what must he pay when the 11th payment is due to discharge his entire in debtness?

Reference no: EM133108353

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