Question $7$

Laia has taken out a loan for server equipment for her business totaling $$13,000.$ The loan will be repaid by making end of quarter payments of $$458\mathrm{.}60$ for the next $8$ years. If interest is $3\%$ compounded monthly, find the balance on the loan at the end of the $2$ nd year? Enter a POSITIVE VALUE, rounded to two decimal places.

Balance at the end of the $2$nd year:

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