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Alex has taken out a loan for server equipment for his business totaling $14,000. The loan will be repaid by making end of quarter payments

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Alex has taken out a loan for server equipment for his business totaling $14,000. The loan will be repaid by making end of quarter payments of $402.63 for the next 10 years. If interest is 2.8% compounded monthly, find the balance on the loan at the end of the 2nd year? Enter a POSITIVE VALUE, rounded to two decimal places. Balance at the end of the 2 nd year: $

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