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A loan is being repaid with 16 quarterly payments, where the first 8 payments are each $200 and the last 8 payments are each $400.

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A loan is being repaid with 16 quarterly payments, where the first 8 payments are each $200 and the last 8 payments are each $400. If the nominal rate of interest convertible quarterly is 10%, use both the prospective method and the retrospective method to find the out- standing loan balance immediately after the first six payments are made

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