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A loan of $ 7 5 0 0 0 0 is needed for the air conditioning project. It is to be paid in 1 0

A loan of $

750 000

is needed for the air conditioning project. It is to be paid in

10

years, with quarterly payments starting at the end of the first quarter. The annual rate of interest for

borrowing is

8 %

with daily compounding. Calculate the quarterly payments required.

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