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A loan of $12,000 is repaid by payments of $571 at the end of every three months. Interest is 9% compounded quarterly (a) How many

A loan of $12,000

is repaid by payments of $571

at the end of every three months. Interest is 9%

compounded quarterly

(a) How many payments are required to repay the debt?

(b) What is the size of the final payment?

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