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2) A loan of $58,000 is taken out today at 8 % compounded quarterly and will be repaid over 6 years with end of month

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2) A loan of $58,000 is taken out today at 8 % compounded quarterly and will be repaid over 6 years with end of month payments. How large will those payments be to fully repay the loan? (3 marks-Ch 12)

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