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the final payment was incorrect The Superior Tool Company is repaying a debt of $16,000 by payments of $1000 made at the end of every

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the final payment was incorrect

The Superior Tool Company is repaying a debt of $16,000 by payments of $1000 made at the end of every three months. Interest is 7.5% compounded monthly. (a) How many payments are needed to repay the debt? (b) What is the size of the final payment

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