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A 10,354 loan is to be amortized with quarterly installments of 1,035 for as long as necessary plus a smaller final payment one quarter after
A 10,354 loan is to be amortized with quarterly installments of 1,035 for as long as necessary plus a smaller final payment one quarter after the last regular payment. Interest is computed at 10% convertible quarterly on the first 5,177 of outstanding balance and 7% convertible quarterly on any excess. Find the principal repaid in the fourth installment
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