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A $42,000 loan at 10% compounded quarterly is to be repaid by $48 equal quarterly payments. The first payment is due exactly 2 years after

A $42,000 loan at 10% compounded quarterly is to be repaid by $48 equal quarterly payments. The first payment is due exactly 2 years after the date of the loan. What is the size of the quarterly payment? Please round up to the nearest cent.

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