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alco Inc. financed the purchase of a machine with a loan at 3 . 1 7 % compounded quarterly. This loan will be settled by

alco Inc. financed the purchase of a machine with a loan at 3.17% compounded quarterly. This loan will be settled by making payments of $9,100 at the end of every quarter for 8 years.
a. What was the principal balance of the loan?
Round to the nearest cent b. What was the total amount of interest charged?
Round to the nearest cent

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