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Conner has taken out a loan for server equipment for his business totalling $13,000. The loan will be repaid by making end of quarter payments
Conner has taken out a loan for server equipment for his business totalling $13,000. The loan will be repaid by making end of quarter payments of $437.69 for the next 9 years. If interest is 4.3% 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 2nd year: $
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Financial Markets And Institutions A Modern Perspective
Authors: Anthony Saunders, Marcia Millon Cornett, Marcia Cornett
2nd Edition
007294109X, 978-0072941098
