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A friend asks for help in estimating a loan payment. Your friend will be borrowing $9,000 at an APR of 5.5%, and making quarterly payments

A friend asks for help in estimating a loan payment. Your friend will be borrowing $9,000 at an APR of 5.5%, and making quarterly payments for two year(s). Do NOT compute the exact payment amount. Use the Estimation Rule for Short Term Loans to estimate what your friend's loan payment will be.

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