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Joe borrowed $2,300 today with the understanding that he would repay the loan in two payments: $1,800 in one year and a second payment of
Joe borrowed $2,300 today with the understanding that he would repay the loan in two payments: $1,800 in one year and a second payment of $550. If interest is 8% compounded quarterly, when should the final payment be made? Make sure you round n to the next larger integer and that your answer is in years and months
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