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Peter takes out a loan of $12000 at j4 = 4%, to be repaid with quarterly payments of $290. What is the outstanding balance of

Peter takes out a loan of $12000 at j4 = 4%, to be repaid with quarterly payments of $290. What is the outstanding balance of the loan just before the 26th payment is made? $7359.01 $5422.35 $7270.64 $6125.72 $8055.14

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