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This question will be sent to your instructor for grading. In ten years, Longin Company will have to repay a $ 6 0 , 0

This question will be sent to your instructor for grading.

In ten years, Longin Company will have to repay a $

60, 000

loan. Assume an

8 %

interest rate compounded quarterly. How much must Longin pay each period to have $

60, 000

at the end of ten years? Verify your result.

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