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Carol agrees to purchase a piece of property worth $30,000 by making 23 quarterly payments of $1,250 each and a final balloon payment at the

Carol agrees to purchase a piece of property worth $30,000 by making 23 quarterly payments of $1,250 each and a final balloon payment at the end of 6 years. If the interest rate is 5.74% compounded quarterly, what is the size of the balloon payment?

please show your work

please do not use excel

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