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The main office of Accountaholics borrowed $ 1 0 0 , 0 0 0 to finance office furniture upgrades. The loan agreement stipulates that Accountaholics

The main office of Accountaholics borrowed $

100, 000

to finance office furniture upgrades. The loan agreement stipulates that Accountaholics must make equal monthly payments for six years with the first payment deferred for one year. If interest is

6.3 %

compounded quarterly, what is the size of each payment?

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