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A loan of $ 8 , 0 0 0 is repaid by payments of $ 7 3 4 at the end of every three months.

A loan of $8,000 is repaid by payments of $734 at the end of every three months. Interest is 7% 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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