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John borrowed $14 734 at 5.95% compounded quarterly and plans to pay the loan back over the next 16 years. Calculate the outstanding balance

John borrowed $14 734 at 5.95% compounded quarterly and plans to pay the loan back over the next 16 years. Calculate the outstanding balance after the 23rd payment is made. O a. $5566.21 O b. $5562.21 c. $5526.21 O d. $5652.21 O e. $5625.21 Next page

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