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A loan of $ 2 9 6 , 0 0 0 at 3 . 0 2 % compounded quarterly was to be settled with month

A loan of $

296, 000

3.02 %

compounded quarterly was to be settled with month

-

end payments of $

9, 000 .

What will be the balance on the loan at the end of year

2 ?

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