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Question 3 A loan is being repaid with quarterly installments of 1,000 at the end of each quarter for 5 years at 12% convertible quarterly.

Question 3 A loan is being repaid with quarterly installments of 1,000 at the end of each quarter for 5 years at 12% convertible quarterly. Find the amount of principal in the 6th installment. (A) 441.86 (B) 541.86 (C) 641.86 (D) 741.86 (E) 841.86

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