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On September 1, 2016 a loan of $10,000 was received at a rate of 6.4% compounded quarterly. Semiannual payments were made to settle the loan

On September 1, 2016 a loan of $10,000 was received at a rate of 6.4% compounded quarterly. Semiannual payments were made to settle the loan beginning on March 1,2017 and ending on March 1, 2021. Determine the size of the payments. ($1297.89) Cannot use Excel.

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