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Hong - bin borrows $ 8 , 9 0 0 . 0 0 which he will repay with level quarterly payments over 4 years. The

Hong

-

bin borrows $

8, 900.00

which he will repay with level quarterly payments over

4

years. The interest rate is i

(26) = 2.750 % .

What is the outstanding balance on the loan just after

11

payments?

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