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In 10 years, Longin Company will have to repay a $60,000 loan. Assume an 8% interest rate compounded quarterly. How much must Longin pay each

In 10 years, Longin Company will have to repay a $60,000 loan. Assume an 8% interest rate compounded quarterly. How much must Longin pay each period to have the $60,000 at the end of 10 years? Verify your result.

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