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A small business takes out a 10-year loan with level end-of-quarter payments. The payments are based on an annual nominal interest rate of 12% convertible

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A small business takes out a 10-year loan with level end-of-quarter payments. The payments are based on an annual nominal interest rate of 12% convertible quarterly. The amount of principal repaid in the 15th payment is 10,030.27. Calculate the amount of interest paid in the 25th payment. 7,521 8,151 9.467 10,030 11,601

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