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8. A $28,200 loan at 8.25% compounded quarterly will be repaid by equal quarterly payments over a seven-year term. What will be the principal component

8. A $28,200 loan at 8.25% compounded quarterly will be repaid by equal quarterly payments over a seven-year term. What will be the principal component of the sixth payment? 5 marks A. 858.20 B. 835.29 C. 856.35 D. 855.00

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