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A loan of $245,000 is to be repaid in equal quarterly payments over a period of 6 years. If the interest rate is 13.5% compounded
A loan of $245,000 is to be repaid in equal quarterly payments over a period of 6 years. If the interest rate is 13.5% compounded quarterly, what is the amount of unpaid principal at the beginning of the second year? O a. $216,440 O b. $301,145 c. $182,939 O d. $215,932 O e. $183,825
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