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Question 6 Jared has taken out a loan for server equipment for his business totaling $21,500. The loan will be repaid by making end of

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Question 6 Jared has taken out a loan for server equipment for his business totaling $21,500. The loan will be repaid by making end of quarter payments of $523.03 for the next 12 years. If interest is 2.6% compounded monthly, find the balance on the loan at the end of the 1st year? Enter a POSITIVE VALUE, rounded to two decimal places. Balance at the end of the 1st year: $

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