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What quarterly payments are required on the loan

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Reference no: EM132602343

Question 1: Mr. Bean wants to borrow $7500 for three years. The interest rate is 9% compounded monthly. What quarterly payments are required on the loan? With the quarterly payments that were calculated in part a, what will be the balance owed on the loan at the start of the third year?

Reference no: EM132602343

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