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A 28,250 loan at 9% compounded quarterly is repaid by monthly payments over the 5 years A) what is the amount of the final payment?

A 28,250 loan at 9% compounded quarterly is repaid by monthly payments over the 5 years A) what is the amount of the final payment? B) calculate the principle and interest portions of the payments in the final year Answers given : A) PMT = 1650.26 B) PRN= 41,339.04 and INT = 1548.22

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