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Lionels student loan of $21,500 at 3.92% compounded quarterly was amortized over 4 years with payments made at the end of every month. What was

Lionels student loan of $21,500 at 3.92% compounded quarterly was amortized over 4 years with payments made at the end of every month. What was the principal balance on the loan after 3 years?

Round to the nearest cent

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