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Kallies loan of $12,000 is being repaid over 5-years with the following payment history: Quarterly payments for the first two years at j4 = 10%

Kallies loan of $12,000 is being repaid over 5-years with the following payment history:

Quarterly payments for the first two years at j4 = 10%

Loan refinanced at j4 = 8%, with quarterly payments for one year

Loan refinanced again, this time at j4 = 6%

What is the outstanding balance of the loan at this point in time after 3 years using both methods learnt in class?

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