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M. Oocher borrows $15,000 from Al Ender. The debt is to be repaid quarterly over 6.5 years. If the money is lent at a nominal

M. Oocher borrows $15,000 from Al Ender. The debt is to be repaid quarterly over 6.5 years. If the money is lent at a nominal rate of 4.4% per year, compounded 4 times per year, what are the periodic payments at the end of each 3-months?

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