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Step by step 2'.) A loan of $100,000 is taken out today at 13 % compounded quarterly and will be repaid over 6 years with

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2'.) A loan of $100,000 is taken out today at 13 % compounded quarterly and will be repaid over 6 years with end of month payments. How large will those payments be to fully repay the loan? (2 marksCh 12)

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