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Falco Inc. financed the purchase of a machine with a loan at 4 . 3 9 % compounded quarterly. This loan will be settled by

Falco Inc. financed the purchase of a machine with a loan at

4.39 %

compounded quarterly. This loan will be settled by making payments of $

8, 900

at the end of every quarter for

8

years.a

.

What was the principal balance of the loan?Round to the nearest centb. What was the total amount of interest charged?

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