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A variable rate demand loan showed an initial balance of $8000.00, payments of $4000.00 after six months, $4000.00 after 21 months, and a final payment
A variable rate demand loan showed an initial balance of $8000.00, payments of $4000.00 after six months, $4000.00 after 21 months, and a final payment after six years. Interest was 6% compounded quarterly for the first 21 months and 5.6% compounded monthly for the remaining time. What was the size of the final payment
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