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Lee has taken out a loan for server equipment for his business totaling $25,000. The loan will be repaid by making end of quarter payments

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Lee has taken out a loan for server equipment for his business totaling $25,000. The loan will be repaid by making end of quarter payments of $856.33 for the next 9 years. If interest is 4.7% compounded monthly, find the balance on the loan at the end of the 5 th year? Enter a POSITIVE VALUE, rounded to two decimal places. Balance at the end of the 5 th year: $

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