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Lucy took a loan of $8,000 from her parents to purchase equipment for her hair salon. They agreed on an interest rate of 3% compounded

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Lucy took a loan of $8,000 from her parents to purchase equipment for her hair salon. They agreed on an interest rate of 3% compounded monthly on the loan. What equal quarterly payments will settle the loan in a total of 7 years if the first payment will be made 2 and one quarter years after the loan? $ 0.00 Round to the nearest cent

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