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Georgia decides to amortize a $4,000 loan with three quarterly payments at an interest rate of 5.2% compounded quarterly. The loan was obtained on July
Georgia decides to amortize a $4,000 loan with three quarterly payments at an interest rate of 5.2% compounded quarterly. The loan was obtained on July 12th, 2018 with the first payment due on October 12th, 2018.
a. What is the size of her quarterly payment?
b. Construct an amortization schedule for the loan.
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