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Jim takes out a $10.000 loan at j4 = 10%, to be paid back with quarterly payments over 5 years. At the end of 2

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Jim takes out a $10.000 loan at j4 = 10%, to be paid back with quarterly payments over 5 years. At the end of 2 years, the outstanding balance is $6,580.07. At that time. Jim makes a lump sum payment of $500 and then refinances the loan at j4 = 8%. He also intends to repay the remainder of the loan over just 2 more years. What is the new quarterly payment? A. $847.97 B $574.93 C. $898.24 D. $829.99

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