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Page 375 /#13 Sally Small borrowed $10,000 to remodel her home. She will repay the loan in quarterly payments for 11 years. Interest is 14%

Page 375 /#13

Sally Small borrowed $10,000 to remodel her home. She will repay the loan in quarterly payments for 11 years. Interest is 14% compounded quarterly.

a. What is Sally's quarterly payment?

b. How much interest will be paid?

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