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Find the loan size to pay off using a sinking fund with the following parameters: Term: 8 Years Annual Nominal Rate Compounded Quarterly: 5.48% Payment

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Find the loan size to pay off using a sinking fund with the following parameters: Term: 8 Years Annual Nominal Rate Compounded Quarterly: 5.48% Payment Frequency: Quarterly (End of each Quarter) First Payment Size: 100 Payment Size: Each Payment is 1% Larger than the Previous Payment Give your answer as a decimal rounded to two places (i.e. X.XX)

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