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A housing loan for $35,000 is to be repaid with level quarterly payments over 25 years at 12% compounded quarterly. Calculate: a) Quarterly payment. b)

A housing loan for $35,000 is to be repaid with level quarterly payments over 25 years at 12% compounded quarterly.

Calculate:

a) Quarterly payment.

b) Outstanding balance after 6 months.

show all work. thanks

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