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A company just borrowed $500,000 (P) at 7.5% interest (r) compounded monthly. If the loan will be repaid quarterly (k=4) in 5 years (N), what
A company just borrowed $500,000 (P) at 7.5% interest (r) compounded monthly. If the loan will be repaid quarterly (k=4) in 5 years (N), what is the amount of the quarterly payment
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