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Beck borrowed $ 1 5 0 , 0 0 0 to buy a house. His loan cost was 1 6 % annually because of his

Beck borrowed $

150, 000

to buy a house. His loan cost was

16 %

annually because of his bad credit score. He promised to repay the loan in

5

years on a quarterly basis. How much are the quarterly payments?

Multiple Choice

11, 453

45, 811

13, 113

11, 038

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