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10602 and 13683 is incorrect A loan of 350000 is taken over twenty years and will be repaid using the sinking fund method with equal

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10602 and 13683 is incorrect

A loan of 350000 is taken over twenty years and will be repaid using the sinking fund method with equal size quarterly payments (i.e. end of quarter) at a nominal annual interest rate of 3% compounded quarterly. Calculate the outstanding balance of the sinking fund immediately after the 15th payment is made. Give your answer rounded to the nearest whole number i.e. X)

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