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*The owner of a small business borrowed $50,000 today (year 0) with an agreement to repay the loan with equal quarterly payments over a five

*The owner of a small business borrowed $50,000 today (year 0) with an agreement to repay the loan with equal quarterly payments over a five year time period. If the interest rate is nominal 20% per year compounded quarterly, his loan payment each quarter is equal to: $4,012 $2,914 $16,719 $11,549

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